Madison Industries Agrees to Acquire Nortek Air for $3.63 Billion
Chicago – Paul Hastings LLP, a leading global law firm, announced today that the firm advised Madison Industries, one of the world’s largest privately held companies, as lead transaction counsel, in 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, 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.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.