Madison Industries’ $3.63 Billion Acquisition of Nortek Air

Paul Hastings LLP advised Madison Industries, while Simpson Thacher represented Melrose Industries PLC on the deal.

Madison Industries, one of the world’s largest privately held companies, announced an agreement to acquire Nortek Air, a leader in providing critical air management, thermal and HVAC solutions, in a transaction valued at $3.63 billion.

Nortek Air is a subsidiary of Melrose Industries PLC (LON: MRO) with a range of world class products spanning custom and commercial air solutions for high performance environments, residential and commercial HVAC and fresh air ventilation systems for homes. The acquisition of Nortek Air positions Madison Industries will a full suite of air hygiene solutions to improve indoor air quality as they make the world safer, healthier and more productive.

The acquisition is expected to close in the summer of 2021.

The cross-border Paul Hastings team was led by partner Brian Richards (Picture), and also included associate Payam Roshandel and Tax partner Ziemowit Smulkowski, as well as teams from the U.S., the UK and China. The team also included IP partner Todd Schneider in Palo Alto, M&A partner Matthew Poxon and Tax partner Jiten Tank in London, and associate Rachel Hou in Shanghai.

The Simpson Thacher team included Eric Swedenburg, Jihyun Chung and Jess Yoon (M&A – New York); Ben Spiers, Adam Signy, Christopher Vallance, Tara Gibbons and Laura Harris (Corporate – London); Jonathan Goldstein, Joseph Tootle and Zachary Fialkow (Tax); Gregory Grogan, Patricia Adams and Allison Sweeney (ECEB); Peter Guryan, John Goheen, Mary Longenbaker and Andrew Jensen (Antitrust); Lori Lesser, Melanie Jolson and Alysha Sekhon (Intellectual Property); ;Adeeb Fadil (Environmental); Brian Gluck and Matthew Farrell (Banking and Credit); Richard Fenyes (Capital Markets); and Adam Cohen (Regulatory).

Involved fees earner: Matthew Poxon – Paul Hastings LLP; Brian Richards – Paul Hastings LLP; Payam Roshandel – Paul Hastings LLP; Todd Schneider – Paul Hastings LLP; Ziemowit Smulkowski – Paul Hastings LLP; Jiten Tank – Paul Hastings LLP; Patricia Adams – Simpson Thacher & Bartlett; Jihyun Chung – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Matthew Farrell – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett; Tara Gibbons – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; John Goheen – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Laura Harris – Simpson Thacher & Bartlett; Andrew Jensen – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Mary Longenbaker – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett; Adam Signy – Simpson Thacher & Bartlett; Ben Spiers – Simpson Thacher & Bartlett; Eric Swedenburg – Simpson Thacher & Bartlett; Allison Sweeney – Simpson Thacher & Bartlett; Joseph Tootle – Simpson Thacher & Bartlett; Christopher Vallance – Simpson Thacher & Bartlett; Jess JuYoung Yoon – Simpson Thacher & Bartlett;

Law Firms: Paul Hastings LLP; Simpson Thacher & Bartlett;

Clients: Madison Industries; Melrose Industries;

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Author: Martina Bellini