M&A Deal Summary

Melrose Industries Acquires Nortek Air

On July 6, 2016, Melrose Industries acquired manufacturing company Nortek Air for 2.8B USD

Acquisition Highlights
  • This is Melrose Industries’ 4th transaction in the Manufacturing sector.
  • This is Melrose Industries’ largest (disclosed) transaction.
  • This is Melrose Industries’ 4th transaction in the United States.
  • This is Melrose Industries’ 1st transaction in Missouri.
Investment Fate
  • Nortek Air was divested to a financial buyer in 2021.

M&A Deal Summary

Date 2016-07-06
Target Nortek Air
Sector Manufacturing
Buyer(s) Melrose Industries
Deal Type Add-on Acquisition
Deal Value 2.8B USD
Advisor(s) Barclays Investment Bank
Citizens Capital Markets, Inc.
RBC Capital Markets (Financial)

Target

Nortek Air

O’Fallon, Missouri, United States
website
Nortek Air is a diversified manufacturer 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 was founded in 1977 and is based in O’Fallon, Missouri.

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Buyer(S) 1

Buyer

Melrose Industries

London, United Kingdom

website


Category Company
Founded 2003
SectorMachinery
Employees37,336
Revenue 6.9B GBP (2021)
DESCRIPTION

Melrose is a buyer 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 Industries was founded in 2003 and is based in London, the United Kingdom.


DEAL STATS #
Overall 7 of 7
Sector (Manufacturing) 4 of 4
Type (Add-on Acquisition) 6 of 6
State (Missouri) 1 of 1
Country (United States) 4 of 4
Year (2016) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-28 Elster Group SE

Essen, Germany

Elster Group SE is a manufacturer and supplier of integrated utility meters. The meters manufactured by Elster are used to measure energy, gas and water consumption of residential customers and industrial consumers.

Sell $5.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-19 Nortek Air

O’Fallon, Missouri, United States

Nortek Air is a diversified manufacturer 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 was founded in 1977 and is based in O’Fallon, Missouri.

Sell -