Goodman Global, a maker of heating, ventilation and air conditioning equipment, on Monday said it agreed to be acquired by private equity firm Hellman & Friedman for about $1.8 billion.
The all-cash transaction values Goodman at $25.60 per share, a 17 percent premium over the Friday closing price of $21.84 on the New York Stock Exchange. The purchase price is based on Goodman's 68.93 million shares outstanding as of Aug. 6.
Hellman & Friedman has obtained $1.6 billion in financing to help fund the transaction, which is expected to close in the first quarter of 2008, Goodman said.
Houston-based Goodman said the overall transaction is valued at about $2.65 billion. It was not immediately clear whether this amount includes assumed debt. Representatives for Goodman and Hellman & Friedman did not immediately return calls for comment.