# Melrose Industries to sell Nortek Air Management to Madison Industries for $3.625B

Melrose Industries agreed to sell its Nortek Air Management business, comprising GHVAC and AQH segments, to Madison Industries for $3.625 billion (approx. £2.62 billion) in cash. Completion is expected in Q2 or Q3 2021.

- Type: Acquisition
- Announced: 2021-04-19
- Where: United States
- Value: $3.63B
- Jobs: 6,000
- Status: announced
- Products: HVAC systems, air quality solutions
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Melrose Industries](https://endata.com/companies/31414.md)
- [Madison Industries](https://endata.com/companies/702.md) (acquirer)
- [Melrose Industries](https://endata.com/companies/31414.md) (partner)
- [Nortek Air Management](https://endata.com/companies/54532.md) (target)
- [Nortek Air](https://endata.com/companies/54545.md) (target)

## Sources

- [shareprices.com](https://shareprices.com/rns/proposed-disposal-of-nortek-air-management-rpkvb5lbzmaaxvf/), 2021-04-19: "The Disposal demonstrates the strength of the Melrose strategy."
- [madison.net](https://madison.net/madison-industries-agrees-to-acquire-nortek-air-to-bolster-indoor-air-quality-offering/), 2021-04-19: "The Nortek Air businesses perfectly complement our portfolio of companies that provide solutions to improve the quality of indoor air."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.