Davis Polk & Wardwell has advised Japanese air-conditioner maker Daikin Industries on its proposed 296 billion yen ($3.77 billion) acquisition of U.S. firm Goodman Global from private equity outfit Hellman & Friedman. Simpson Thacher & Bartlett represented Goodman Global and Hellman & Friedman.

Daikin expects to complete the deal in the fourth quarter of this year, and will use loans, cash reserves and a bond issue of about 50 billion yen to fund the acquisition, a senior official at the Japanese company told Reuters.

A large team of partners based in Davis Polk’s Tokyo, New York and Menlo Park offices worked closely with Daikin, including Theodore Paradise, Mischa Travers, Michael Davis (corporate), Ronan Harty (antitrust), Lawrence Wieman (credit), Jeffrey Crandall, Kyoko Takahashi Lin (employee benefits), Frank Azzopardi (intellectual property), and Avishai Shachar (tax). Counsels Betty Huber and Hayden Baker assisted on environmental matters, while counsels James McIntyre and Steve Sorkin provided real estate advice.

Simpson Thacher's team was led by partners Rich Capelouto (M&A), Katharine Moir (tax), and Tristan Brown (employee benefits) in Palo Alto, and New York-based partners Brian Steinhardt (credit) and Lori Lesser (intellectual property).

Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter:@ALB_Magazine.

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