Hellman & Friedman to acquire HVAC manufacturer
Private equity firm Hellman & Friedman will acquire residential HVAC manufacturer Goodman Global for $2.65 billion in cash, according to a joint statement from the companies.
Goodman Global manufactures HVAC items under the brands Goodman, Amana and QuietFlex.
“After a thorough review of the strategic options available to the company, we have concluded that this transaction will both reward our current stockholders and position Goodman for continued profitable growth,” said Charles Carroll, president and CEO of Goodman.
Goldman Sachs and JPMorgan are acting as advisors to Goodman’s board of directors on the transaction, according to a statement from the company.
Goodman Global will release its third-quarter financial results on Oct. 25.