Goodman Distribution, Inc. entered into a definitive agreement to acquire CCOM Group, Inc. (OTCPK:CCOM) for $24.8 million on March 18, 2022. As per the terms of the transaction, Goodman Distribution shall acquire common stock and convertible preferred stock of CCOM at $2.71 per share. Goodman Distribution, Inc. will change its name to Daikin Comfort Technologies Distribution, Inc. on April 1, 2022.

Following the closing of the transaction, CCOM and its subsidiaries, Universal Supply Group, Inc., RAL Supply Group, Inc., and S&A Supply, Inc. will operate as a wholly owned business unit of Goodman, while maintaining headquarters in Hawthorne, New Jersey with more than 165 employees. The transaction is subject to customary closing conditions. The transaction is expected to close in the first half of 2022.