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    1. Business Management

    Broan parent Nortek buys NuTone

    April 1, 2003
    Nortek, Inc., the parent of Broan Manufacturing, announced plans to buy NuTone, Inc., a subsidiary of Williams PLC of London, for $242.5 million in cash.Nortek,

    Nortek, Inc., the parent of Broan Manufacturing, announced plans to buy NuTone, Inc., a subsidiary of Williams PLC of London, for $242.5 million in cash.

    Nortek, based in Providence, R.I., makes building, remodeling and environmental control products, including range hoods, home ventilating products, heating and air conditioning systems, windows, doors and vinyl siding products. The company's net sales last year were $1.13 billion.

    NuTone, based in Cincinnati, Ohio, has been Nortek's primary competitor in range hoods, radio intercoms, bath fans and heaters, Nortek said in documents it filed with the U.S. Securities and Exchange Commission. NuTone also makes door chimes and central vacuum cleaners. NuTone had revenues of $199 million last year. The sale is expected to close by midyear.

    About the Author

    Doug Chandler | Senior Staff Writer

    Doug has been reporting and writing on the electrical industry for Electrical Wholesaling and Electrical Marketing since 1992 and still finds the industry’s evolution and the characters who inhabit its companies endlessly fascinating. That was true even before e-commerce, LED lighting and distributed generation began to disrupt so many of the electrical industry’s traditional practices.

    Doug earned a BA in English Literature from the University of Kansas after spending a few years in KU’s William Allen White School of Journalism, then deciding he absolutely did not want to be a journalist. In the company of his wife, two kids, two dogs and two cats, he spends a lot of time in the garden and the kitchen – growing food, cooking, brewing beer – and helping to run the family coffee shop.

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