Thomas H. Lee Partners and management acquire Nortek Holdings

Date Closed: 8/27/2004 

Value: Undisclosed  

On August 27, 2004, Thomas H. Lee Partners, LP, in partnership with Richard L. Bready, chairman and CEO of Nortek, Inc. (Nortek) (a leading international designer, manufacturer and marketer of high-quality brand name building products) and other members of Nortek management, acquired Nortek Holdings, Inc. (Nortek Holdings), the parent company of Nortek. Prior to the completion of the transaction, affiliates of Kelso and Company, LP owned a majority of the capital stock of Nortek Holdings. The transaction valued Nortek Holdings at approximately US$1.75 billion.

In Canada, BLG provided advice to the borrower and Ropes & Gray in connection with the debt financing. The BLG team included Frank Callaghan, Howard Silverman, Vincent Frenette, Colin Simpson and Larissa Tkachenko (tax).