Oct. 22, 2014: Nortek Acquires Residential HVAC Equipment Distribution Business
Transaction Strengthens Presence of Nortek’s Residential Heating and Cooling Segment in Arizona Market
PROVIDENCE, R.I. — Nortek Inc. announced that it has acquired the HVAC distribution business of privately owned Phoenix Wholesale Inc.
Operating out of five facilities in Arizona, including locations in Flagstaff, Tempe, and Tucson, the business will be integrated into Nortek’s Residential Heating and Cooling (RHC) segment. Nortek expects the transaction, which was funded from existing cash on hand, to generate incremental revenue in the range of $15 million to $20 million over the next 12 months.