Simpson, Paul Hastings Steer UK Co.’s $3.6B HVAC Biz Sale

Law360 (April 19, 2021, 4:37 PM EDT) – British industrial investor Melrose Industries said on Monday it has agreed to sell its heating, ventilation and air conditioning business to Madison Industries of Chicago for approximately £ 2 .62 billion (nearly $ 3.63). billion) all-cash deal led by Simpson Thacher and Paul Hastings.

Melrose Industries PLC, in partnership with Simpson Thacher, said in a press release that it is transferring control of its Nortek air management unit to Paul Hastings LLP client Madison Industries US Holdings Corp. as the coronavirus pandemic has highlighted the importance of ventilation .

Simon Peckham, CEO of Melrose, said in the statement that the company is relieving Nortek as part of its strategy …

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