World News
Melrose completes Nortek purchase
UK: British investment group Melrose Industries has completed the acquisition of US hvac equipment manufacturer Nortek.
Having now acquired all remaining shares, Nortek is now a wholly-owned indirect subsidiary of Melrose.
Melrose Industries first announced its intentions to acquire Nortek in July in a £2.15bn deal.
Nortek is heavily involved in the domestic and commercial HVAC sector, owning such well-known brands as Ambirad, Frigidaire, Kelvinator, Maytag and Reznor and the UK’s Eaton Williams, Edenaire, Moducel, Colman, Vapac and Qualitair.
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