Goodman Global Completes Merger with Hellman & Friedman
13 Fevereiro 2008 - 5:46PM
Business Wire
Goodman Global, Inc. (NYSE:GGL), a leading manufacturer of
residential and light commercial heating, ventilation and
air-conditioning equipment, announced today that it has completed
its merger with an affiliate of private equity firm Hellman &
Friedman LLC. �This transaction represents a significant step for
the Company,� said Charles Carroll, President and Chief Executive
Officer of Goodman. �We look forward to this partnership with
Hellman & Friedman. Our combined resources will support and
enhance Goodman�s demonstrated ability to deliver both outstanding
value and exceptional performance to the residential and light
commercial HVAC marketplace.� At a special meeting of stockholders
held on January 11, 2008, stockholders representing a majority of
common shares outstanding voted in favor of the merger. Under the
terms of the merger agreement, Goodman stockholders will receive
$25.60 in cash for each outstanding share of stock, without
interest. As a result of the merger, it is expected that February
13, 2008 will be the last day of trading in shares of Goodman
Global common stock, ticker symbol �GGL�, on the New York Stock
Exchange. The merger consideration and refinancing of previously
existing debt, approximately $2.7 billion, was provided by
affiliates of Hellman & Friedman and through financing arranged
by Barclays Capital, Calyon New York Branch, GE Commercial Finance
and certain vehicles managed by GSO Capital Partners LP and
Farallon Capital Management, L.L.C. Goldman, Sachs & Co. and
J.P. Morgan Securities Inc. acted as advisors to Goodman�s Board of
Directors in connection with the transaction. O�Melveny & Myers
LLP and Simpson Thacher & Bartlett LLP served as legal advisors
to Goodman and Hellman & Friedman, respectively. About Goodman
Houston-based Goodman Global, Inc. is the second-largest domestic
unit manufacturer of heating, ventilation and air conditioning
products for residential and light-commercial use. Goodman�s
products are predominantly marketed under the Goodman�, Amana� and
Quietflex� brand names, and are sold through company-operated and
independent distribution networks with more than 850 distribution
points throughout North America. For more information about
Goodman, visit www.goodmanglobal.com. Amana� is a trademark of
Maytag Corporation and is used under license to Goodman Company,
L.P. All rights reserved. About Hellman & Friedman LLC Hellman
& Friedman LLC is a leading private equity investment firm with
offices in San Francisco, New York and London. The Firm focuses on
investing in superior business franchises and serving as a
value-added partner to management in select industries including
business services, asset management, information services, media,
energy and healthcare. Since its founding in 1984, Hellman &
Friedman has raised and, through its affiliated funds, managed over
$16 billion of committed capital and is currently investing its
sixth partnership, Hellman & Friedman Capital Partners VI L.P.,
with over $8 billion of committed capital. Other recent investments
include: Catalina Marketing Corporation, Kronos Incorporated,
Sheridan Healthcare, Inc., Gartmore Investment Management plc, IRIS
Software Group Limited, LPL Holdings, Inc., DoubleClick, Inc., The
Nasdaq Stock Market, and Texas Genco LLC.
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