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Nortek completes acquisition of Thomas & Betts’ hvac business

Nortek has completed its acquisition of the hvac business of Thomas & Betts Corporation for approximately $260m on a cash and debt-free basis.

Thomas & Betts is a wholly owned subsidiary of ABB and designs, manufactures and sells unit heaters, radiant heaters and rooftop heating, ventilation and cooling products for industrial and commercial applications primarily in North America and Europe. Its brands include Reznor (USA), AmbiRad, Reznor Europe, Reznor (UK), Gaz Industrie (France) and manufacturing operations in Monterrey, Mexico. Principal end-use applications for T&B HVAC products include warehouses, factories, restaurants, retail locations and institutions and other applications.

Nortek president and ceo Michael J Clarke said: “Acquiring T&B HVAC helps us link our three major segments in the air management category, which include Residential Ventilation (RESV), Residential Heating and Cooling (RHC) and Custom and Engineered Solutions (CES).”

He continued: “In addition, acquiring this business will open the door to cross-selling opportunities, as well as cost synergies, particularly in the areas of supply chain, manufacturing and logistics. In addition, it will enable us to extend our air management business into attractive adjacent segments of the HVAC market in the United States and Europe.”

 

Coronavirus industry update

UPDATED 22 April: In response to the Coronavirus pandemic, manufacturers, wholesalers and distributors are issuing statements regarding their operations as the situation evolves. The most up to date information from each company is listed below and ...

  25-Mar-2020

High temperature CO2 heat pump increases hot water efficiency

Mitsubishi Electric has announced the launch of a new commercial heating system running on CO2 (R744) to deliver hot water up to 90°C and help businesses increase the efficiency of hot water production whilst significantly reducing their carbon ...

  21-Sep-2020

Fridge Freezer Direct Introduces J & E Hall's range of Cellar Cooling

Reliable and energy efficient, the JCC range of cellar coolers are designed to be used in wine and beer cellars above or below ground.
  21-Sep-2020
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