As covered in a recent piece on Biz Journals, Goettl Air Conditioning recently announced their acquisition of Walton’s Heating and Air, a family-owned HVAC company, headquartered in southern California. The acquisition will allow Goettl to gain a foothold in the California market, and make way for future expansion, as well as to provide new opportunities for the acquired company to expand its operations.
The deal had been finalized in the middle of 2015, with the previous owner of Walton’s taking on a position within Goettl as sales manager and field supervisor. However, although the acquisition had been finalized in 2015, the announcement was not made until recently, due to issues with Walton’s operational structure, as well as complications in marketing. Despite these issues, Goettl continued with the acquisition process due to the immense value that Walton’s presented to Goettl. While the company had long been stagnant, its values and background had reminded Goettl’s owner of his own company, and he believed that Walton’s could present significant opportunity as a platform for future growth.
Currently, Goettl has over three hundred employees, however, as a result of the deal, they project possible growth with the addition of more than two hundred additional jobs in the Tuscon and Phoenix markets. Proving a jump-start towards their eventual goal of turning Goettl into a nationwide brand. With expansions planned in northern California and Texas in the new future, that goal may not be far off.
Goettl Air Conditioning
As noted in an azcentral article about the company, Goettl was founded by brothers Adam and Gust Goettl in 1939 and was originally family-run. However, it had changed ownership several times by the time Goettl acquired it. When Goodrich purchased it on behalf of Goettl, he saw the telltale signs of a business that needed a significant amount of work. With crumbling moral, no profits, and significant losses, this was a business in need of rescue. In addition, the former owners of Goettl had received a citation from the attorney general for questionable business practices, leaving deep running scars in public perception of the business.
In order to aid the recovery of the business, Goodrich set an emphasis on building employee morale. Doing so by paying attention to the needs of both employees and customers and acting on that information by incorporating daily conversations about the importance of a positive impact on customers, as well as employees and the industry at large. In addition, charitable initiatives were put in practice, and Goettl was slowly built back up, and has now grown by over five hundred percent, and seen more than fifty million dollars in annual revenue.
View the Goettl company profile on Linked In.