Nice North America announced this week that it has appointed Mark Ohlwiler as its new Regional Sales Manager in the West region. Ohlwiler’s appointment was effective as of April 3, 2023.
Nice Appoints Mark Ohlwiler as Regional Sales Manager
Elan
Sources: Nortek Security & Control Shutting Down Niles and Sunfire Brands
Multiple sources are confirming to Strata-gee that Nortek Security & Control (NSC or Nortek) is planning to shut down two of their brands – Sunfire and the once iconic Niles. The move is said to be the result of their relative under-performance as the company shifts its focus to the apparently more successful brands, such as Elan.
See more on the closing of Niles & Sunfire by Nortek
[Read more…] about Sources: Nortek Security & Control Shutting Down Niles and Sunfire BrandsMelrose Suspends Dividends, Cuts Executive Pay
Parent of Many Top CI Brands Steps in to Adjust for Impact of COVID-19
Melrose Industries PLC has announced it will suspend the payment of its usual year-end dividend in the face of the deteriorating economic environment as a result of the global spread of Coronavirus (COVID-19). Melrose, the U.K. turnaround specialist that is parent company of the U.S. based Nortek has taken other actions to adjust operations at its operating companies in the face of COVID-19.
Learn more about Melrose’s actions to adjust to COVID-19…
[Read more…] about Melrose Suspends Dividends, Cuts Executive PayMelrose Talks of Disposing of Nortek
Are Elan, Speakercraft, Niles, Proficient, etc. In Play Again?
Melrose PLC, owner of Nortek, including Nortek Security & Control, is openly talking to U.K. media about the likelihood of selling off Nortek – saying, in essence, their work is done, the turnaround is complete. This being the case, their thinking is that it is time to harvest their crop by selling off the company to reap their reward of profits.
But what does this mean for Nortek and its stable of brands?… [Read more…] about Melrose Talks of Disposing of Nortek
Elan Reveals Opening of First Training Center in Dallas
Elan revealed Wednesday that it has opened a training facility in Dallas, TX as of January of this year. The company says the facility is operating at 95% capacity and has already trained more than 200 dealers from around the United States.
See more on this new initiative from Elan… [Read more…] about Elan Reveals Opening of First Training Center in Dallas
Nortek Parent Melrose Reports Higher Margins & Sales
Melrose Industries PLC, an engineering turnaround company that recently acquired Nortek, Inc. (parent company of Core Brands) announced last week that it sees margins improving at Nortek already, even though it only acquired the company just last year. Not only that, but thanks to adding Nortek to its stable of investments, Melrose has seen its revenues triple – driving its stock to a record high.
See more on what Melrose had to say about Nortek… [Read more…] about Nortek Parent Melrose Reports Higher Margins & Sales
Nortek Sold to British Investment Company
BREAKING NEWS
The summer continues to heat up with the second major acquisition announcement in two days. Melrose, PLC, a UK-based investment company that buys underperforming companies, improves their operations, and then resells them, has acquired Nortek, Inc. in a deal that pays Nortek shareholders $86 per share – a 38% premium over yesterday’s closing price. The deal, an all-cash offer, is expected to close by the end of August.
See more on this acquisition… [Read more…] about Nortek Sold to British Investment Company
Nortek Fiscal 2016 Q1 Results Improve, Except for AV
AVC Generates an Operating Loss on a 17.8% Decline in Sales
Nortek, Inc. (Nortek) released their results for the 2016 fiscal first quarter and generally showed broad improvement,with sales gains and profit improvements in most of their segments. But not in the Custom and Commercial Air segment which had a sales decline; and especially not in their AVC segment, which saw continued sales declines and generated a loss from operations.
See more on our Nortek 2016 Q1 report… [Read more…] about Nortek Fiscal 2016 Q1 Results Improve, Except for AV
Nortek Calls Off Discussions with United Technologies
Nortek, Inc. announced late Thursday that it has called off talks with an unnamed party who had tendered an unsolicited offer. According to the Wall Street Journal and as we had previously reported, that suitor was United Technologies. Nortek stock closed Friday at $63.97/share or off 3.8%, on a day when the Dow was up .2%.
See more on this announcement from Nortek… [Read more…] about Nortek Calls Off Discussions with United Technologies
Investment Advisor on Potential Nortek Acquisition: ‘Nortek is a Bit of a Train Wreck’
After the Wall Street Journal revealed late last month that United Technologies Corp. (UTC) was in talks to potentially acquire Nortek, Inc., we questioned why UTC would even want to acquire Nortek. Within days of our post, investment advisory firm The Motley Fool (TMF) also raised the issue in a post last week about this not-quite-so-obvious marriage. Well, maybe it’s more like a dalliance than a marriage…at least at this point.
We found the Motley Fool’s analysis interesting – both in their clear-eyed assessment of Nortek and why the acquisition may in fact make sense for United Technologies.
