Goodman Global, Hellman & Friedman merger completed

By Lisa Kerner

Charlotte, N.C., Feb. 13 - Hellman & Friedman LLC completed its acquisition of Goodman Global, Inc., it was announced on Wednesday.

As a result, Goodman's common stock was expected to cease trading on the New York Stock Exchange at the close of business on Wednesday.

Goodman stockholders approved the merger on Jan. 11.

The merger agreement calls for the stockholders to receive $25.60 in cash for each outstanding share of Goodman stock, without interest.

"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," Goodman president and chief executive officer Charles Carroll said in a company news release.

Financing for the $2.7 billion deal was arranged by Barclays Capital, Calyon New York Branch, GE Commercial Finance and certain vehicles managed by GSO Capital Partners LP and Farallon Capital Management, LLC.

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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