M&A Deal Summary

Nortek Air Acquires Thomas & Betts HVAC Business

On April 30, 2014, Nortek Air acquired building materials company Thomas & Betts HVAC Business from Thomas & Betts for 260M USD

Acquisition Highlights
  • This is Nortek Air’s 1st transaction in the Building Materials sector.
  • This is Nortek Air’s largest (disclosed) transaction.
  • This is Nortek Air’s 5th transaction in the United States.

M&A Deal Summary
Date 2014-04-30
Target Thomas & Betts HVAC Business
Sector Building Materials
Buyer(s) Nortek Air
Sellers(s) Thomas & Betts
Deal Type Divestiture
Deal Value 260M USD

Target

Thomas & Betts HVAC Business

United States
Thomas & Betts' HVAC business 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.

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Buyer(S) 1

Buyer

Nortek Air

O’Fallon, Missouri, United States

website

Category Company
Founded 1977
Sector Manufacturing
DESCRIPTION

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.

DEAL STATS #
Overall 6 of 10
Sector (Building Materials) 1 of 1
Type (Divestiture) 3 of 4
Country (United States) 5 of 8
Year (2014) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 2GIG Technologies

Lehi, Utah, United States

2GIG Technologies, Inc. is a designer and supplier of residential security and home automation systems.

Buy $135M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-08 Phoenix Wholesale - HVAC Equipment Distribution Business

Surprise, Arizona, United States

Phoenix Wholesale - HVAC Equipment Distribution Business is a distributor of HVAC products.

Buy -

Seller(S) 1

SELLER

Thomas & Betts

Memphis, Tennessee, United States

website

Category Company
Founded 1898
Sector Electrical Equipment
DESCRIPTION

Thomas & Betts is a designer and manufacturer of connectors and components for electrical and communication markets.

DEAL STATS #
Overall 3 of 3
Sector (Building Materials) 1 of 1
Type (Divestiture) 3 of 3
Country (United States) 3 of 3
Year (2014) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-11 Thomas & Betts Communications Products Business

United States

Thomas & Betts Communications Products Business, is a manufacturer of communication products.

Sell $78M
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