Nortek to acquire Thomas & Betts HVAC business from ABB for ~$260M

Nortek signed a definitive agreement to acquire the HVAC business of Thomas & Betts Corp., a wholly owned subsidiary of ABB, for approximately $260 million in an all-cash transaction, financed via a new senior secured term loan and cash on hand.

“Nortek Inc., a global diversified manufacturer of heating and cooling products, ventilation products, and more, announced that it has signed a definitive agreement to acquire the HVAC business of Thomas & Betts Corp., a wholly owned subsidiary of ABB.”

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