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.
UBS Investment Bank and Credit Suisse First Boston led the arrangement of the debt financing for the transaction. UBS Investment Bank, Credit Suisse First Boston and Daroth Capital Advisors LLC served as financial advisors to Nortek.
Thomas H. Lee Partners was represented by Ropes & Gray in the US, with a team that included Patrick Diaz, David Chapin, Steven Rutkovsky, Nicholas Antoun, Christopher Cooper, Christopher Rile and Peggy Ho.
Nortek Holdings and Kelso were represented by Skadden, Arps, Slate, Meagher & Flom, with a team that included Lou Kling, Brian Keyes, Linda Davies and Marie Gibson.
UBS Investment Bank and Credit Suisse First Boston were represented in the US by Cahill Gordon & Reindel, with a team that included Adam Dworkin, Daniel Zubkoff, Corey Wright, Jeremy Hazan, Jeni Pachovska and Michael Aklufi; and in Canada by Janet Ferrier, Mario Cavalancia and Dominic Nadeau of Davies Ward Phillips & Vineberg.
In Canada, Borden Ladner Gervais provided advice to the borrower and Ropes & Gray in connection with the debt financing. The Borden Ladner team included Frank Callaghan, Howard Silverman, Vincent Frenette, Colin Simpson and Larissa Tkachenko (tax).