Goodman stockholders OK deal with Hellman & Friedman

By Lisa Kerner

Charlotte, N.C., Jan. 11 - Goodman Global, Inc. shareholders voted to approve the company's acquisition by Hellman & Friedman LLC at a special meeting on Friday.

The transaction is expected to close in the first quarter of 2008.

In addition, Goodman said it will achieve EBITDA of at least $255 million for the fiscal year ended Dec. 31, as required in the merger agreement.

The company has not yet completed its financial statements for the 2007 fiscal year; however, Goodman is confident EBITDA will not be less than $255 million, a company news release stated.

As previously reported, Hellman & Friedman affiliates agreed to acquire Goodman for $25.60 per share, or some $2.65 billion in cash.

Goodman, located in Houston, manufactures heating, ventilation and air conditioning products for residential and light-commercial use.

Hellman & Friedman is a private equity firm with offices in San Francisco, New York and London.

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