Nortek CEO Comments on Strategic Rationale for HVAC Acquisition

Nortek's CEO stated the acquisition links the company's air management segments and opens cross-selling opportunities and cost synergies, extending its business into adjacent HVAC market segments in the U.S. and Europe.

““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),” said Nortek President and Chief Executive Officer Michael J. Clarke. “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.””

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