Melrose sells ventilation business Nortek for £2.6bn :

Melrose sells ventilation business Nortek for £2.6bn


Melrose bought the heating, ventilation and air conditioning unit in 2016 (Dominic Lipinski/PA)
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Melrose Industries will sell a majority of its Nortek arm to a US industrial group for £2.6 billion only five years after first buying the company.
Melrose said that it had struck a deal with Madison Industries over the heating, ventilation and air conditioning unit.
It sees Madison take over 73% of the Nortek business – measured by revenue – half a decade after Melrose bought the company for £2.2 billion.

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