Deal Details

Nortek Air Management Is Sold to Madison for $3.6 Billion

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Summary

About

Nortek Air Management is a world leader in providing critical air management, thermal and HVAC solutions across broad commercial, residential and data center markets. Air Management’s two segments, GHVAC and AQH, represent a range of world class products spanning custom and commercial air solutions for high-performance environments, residential and commercial HVAC and fresh air ventilation systems for homes. Nortek Air Management has also developed StatePoint, a highly resource-efficient, state-of-the art data center cooling technology with an impressive growth pipeline. GHVAC is headquartered in St. Louis, Missouri and AQH is headquartered in Hartford, Wisconsin.

Melrose buys good manufacturing businesses with strong fundamentals whose performance can be improved. Melrose finances its acquisitions using a low level of leverage, improves the businesses by a mixture of investment and changed management focus, sells them and returns the proceeds to shareholders. Melrose’s shares are traded on the London Stock Exchange.

Madison Industries is one of the largest and most successful privately held companies in the world. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier and more productive by creating innovative solutions that deliver outstanding customer value. Madison is headquartered in Chicago, Illinois.

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