M&A Deal Summary

Nortek Air Solutions Acquires Thomas & Betts HVAC Business

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

Acquisition Highlights
  • This is Nortek Air Solutions’ 1st transaction in the Building Materials sector.
  • This is Nortek Air Solutions’ largest (disclosed) transaction.
  • This is Nortek Air Solutions’ 6th 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 Solutions
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 Solutions

Okarche, Oklahoma, United States
Category Company
Founded 1977
Sector Manufacturing
DESCRIPTION

Nortek Air Solutions 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 Okarche, Oklahoma.

DEAL STATS #
Overall 7 of 11
Sector (Building Materials) 1 of 1
Type (Divestiture) 3 of 4
Country (United States) 6 of 9
Year (2014) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-17 sEnergy Thermal

Nashua, New Hampshire, United States

sEnergy Thermal develops and markets enterprise-level Data Center Infrastructure Management (DCIM) solutions focused on achieving and maintaining high energy efficiency and reduced cost-of-ownership for the data center owner-operator.

Buy -
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
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
Mergr

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