Melrose Industries Melrose Plc Ftse 100 Index Revenue

The latest and trending news from around the world.

Melrose Industries, Melrose Plc, FTSE 100 Index, Revenue
Melrose Industries, Melrose Plc, FTSE 100 Index, Revenue from

Melrose PLC Acquires Nortek Air Management for £2.7 Billion

FTSE 100 Group Expands HVAC Portfolio with Latest Purchase

Deal Adds $1.6 Billion in Revenue, Strengthens Position in North America

Melrose Industries (LON: MRO), the FTSE 100 conglomerate, has acquired Nortek Air Management (NAM) from Nortek, Inc. for £2.7 billion (approximately $3.6 billion). This acquisition marks a significant expansion of Melrose's HVAC (heating, ventilation, and air conditioning)portfolio, adding $1.6 billion in revenue and further strengthening its position in North America.

Nortek Air Management is a leading provider of air quality solutions for commercial and residential applications, with a strong presence in the United States, Canada, and Mexico. The company's products include air handlers, chillers, packaged rooftop units, and air distribution systems.

The acquisition of NAM is a strategic move for Melrose as it seeks to expand its HVAC business, which already includes companies such as Dynesco and Gewerbe. With the addition of NAM, Melrose now has a comprehensive offering of HVAC solutions for a wide range of applications.

The acquisition is expected to be completed in the second half of 2023, subject to regulatory approvals.

Benefits of the Acquisition for Melrose

Conclusion

The acquisition of NAM is a major boost to Melrose's HVAC business and further strengthens its position as a leading provider of HVAC solutions globally. With its expanded portfolio and increased presence in North America, Melrose is well-positioned to capture growth in the HVAC market in the years to come.