Goodman Global warms up to a $1.8 billion buyout


Goodman Global (NYSE: GGL) logoIt's been mostly sporadic, but we are seeing some deals in the private equity world. In fact, today there was a fairly decent transaction: Goodman Global (NYSE: GGL) agreed to a $1.8 billion buyout. The buyer is Hellman & Friedman LLC.

Goodman manufactures heating and air-conditioning systems, and while impressive in the numbers, the deal wasn't much of a surprise. After all, the company recently announced that it was exploring strategic alternatives.

With the soft U.S. economy and ongoing troubles in real estate, the situation had been lackluster with Goodman. But, as a private entity, the company will have some shelter to make some changes (such as cutting costs and perhaps moving operations offshore).

Interestingly enough, Goodman went private back in 2004 (and came back to the public markets in 2006).

In today's trading, Goodman's stock is up 11% to $24.25.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

Symbol Lookup
IndexesChangePrice
DJIA+5.7512,883.95
NASDAQ+11.782,915.86
S&P 500+2.911,349.96

Last updated: February 09, 2012: 08:46 AM

Hot Stocks

General Electric

19.24+0.06(+0.31)

Alcoa

10.670.00(0.00)

Apple Inc

476.68+7.85(+1.67)

Google Inc 'A'

609.85+3.08(+0.51)

Bank of America

8.13+0.28(+3.57)

Wal-Mart Stores

61.62-0.07(-0.11)

Exxon Mobil Corp

85.32-0.55(-0.64)

Ford

12.84-0.04(-0.31)

Citigroup

34.23+1.16(+3.51)

IBM

192.95+0.35(+0.18)

Yahoo

15.78-0.05(-0.32)

Starbucks

48.72+0.31(+0.64)

Microsoft

30.66+0.31(+1.02)

Home Depot

45.17-0.29(-0.64)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328795160306 ms.