Goodman sold!!

**gary_g** · 10-22-2007, 03:24 PM

Goodman Global Sold in $1.8B Cash Deal
Monday October 22, 11:27 am ET
By John Porretto
Goodman Global Acquired for About $1.8 Billion by Private Equity Fund

HOUSTON (AP) -- Goodman Global Inc., a manufacturer of heating, ventilation and air conditioning equipment, said Monday it has agreed to be acquired by affiliates of private equity firm Hellman & Friedman LLC in an all-cash deal valued at about $1.8 billion.

Goodman shares shot up 12.41 percent in morning trading.

Goodman stockholders will receive $25.60 in cash for each outstanding share upon close of the transaction, which is expected to take place in the first quarter of 2008.

The number of shares outstanding Monday stood at roughly 70 million. The offer is a 17 percent premium above Friday's closing price of $21.84.

Including debt, Goodman valued the deal at about $2.65 billion.

Houston-based Goodman Global said in July it had retained Goldman, Sachs & Co. and J.P. Morgan Securities to help it explore options.

"After a thorough review of the strategic options, we have concluded this transaction will both reward our current stockholders and position Goodman for continued profitable growth," Charles Carroll, Goodman's president and chief executive, said in a statement.

In July, Goodman Global said its second-quarter net income more than quadrupled to $39 million from a year ago on higher sales and prices. Sales in the quarter were $563.7 million.

Its products, marketed primarily under the Goodman, Amana and Quietflex names, are designed for residential and light-commercial use.

Goodman said Hellman & Friedman has obtained $1.1 billion in commitments for senior secured credit facilities and $500 million in commitments for senior subordinated debt to finance the acquisition.

Stockholders holding a majority of Goodman's outstanding shares have agreed to vote in favor of the transaction.

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

In trading Monday, Goodman shares were up $2.73, or 12.5 percent, to $24.57. The shares have traded in a range of $13.50 to $26.60 in the past year.

**fincomber569** · 10-22-2007, 05:35 PM

I wonder if private ownership will bring on some QC at The GOO monster. My Co. handles six lines of equipment and Goodman is highest warranty to sales ratio by far.
Last spring Rumor was that Mitsubishi was looking to aquire Goodman. Those Japs are too smart for that.

**centralairekc** · 10-22-2007, 06:52 PM

Does anybody like goodman products. Are their products built well and reliable?

**BigJon3475** · 10-22-2007, 07:01 PM

Yeah I like em.....I don't think anyone can deny that they are well built and at a good price....Brand bashing is just pitiful. Heck I guess the ARI sticker on them doesn't mean what it does on a Trane or Carrier product. I think it's more important for a good install as a bad install will make any product unreliable.

**centralairekc** · 10-22-2007, 07:15 PM

Originally Posted by BigJon3475

Yeah I like em.....I don't think anyone can deny that they are well built and at a good price....Brand bashing is just pitiful. Heck I guess the ARI sticker on them doesn't mean what it does on a Trane or Carrier product. I think it's more important for a good install as a bad install will make any product unreliable.

Do you sell more goodman's than trane or Carrier?

**BigJon3475** · 10-22-2007, 07:17 PM

I don't sell anything.

**centralairekc** · 10-22-2007, 07:19 PM

Originally Posted by BigJon3475

I don't sell anything.

Then what do you do?

**BigJon3475** · 10-22-2007, 07:19 PM

I don't sell anything. So maybe I can't make a good deduction.

**centralairekc** · 10-22-2007, 07:21 PM

Originally Posted by BigJon3475

I don't sell anything. So maybe I can't make a good deduction.

Do you at least install Goodman's?

**BigJon3475** · 10-22-2007, 07:31 PM

I have and also Payne. So my terms are subjective. I also have worked on Trane builders grade. I really don't see much of a difference in any of them except price and size differences. Goodman will be as good as it's installed. I'm sure some will argue differently.

**centralairekc** · 10-22-2007, 07:40 PM

Originally Posted by BigJon3475

I have and also Payne. So my terms are subjective. I also have worked on Trane builders grade. I really don't see much of a difference in any of them except price and size differences. Goodman will be as good as it's installed. I'm sure some will argue differently.

I see! Thanks!!!