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You are here: Home / Archives for Melrose Industries

Melrose Industries

Major Credit Agencies Downgrade Outlook for GKN – Biggest Melrose Company

July 29, 2020 by Ted Leave a Comment

GKN Automotive division graphic

Future of Nortek a Question

Melrose plc, parent company to Nortek, Inc., has taken some serious incoming hits this month – hits from both major credit rating agencies Fitch Ratings and Moody’s Investors Service. And these hits hurt. Fitch was first when they announced a couple of weeks ago that in a review of GKN Holdings Limited – Melrose’s largest holding by far – it was maintaining its credit rating at current levels, but it was changing its future “Outlook” to “Negative.” Today, Moody’s announced they too were changing their outlook on GKN from “Ratings Under Review” to “Negative.”

See why credit pros are downgrading the mighty Melrose bet on GKN…

[Read more…] about Major Credit Agencies Downgrade Outlook for GKN – Biggest Melrose Company

Filed Under: Financial, Strategy Tagged With: Melrose, Melrose Industries, Melrose PLC, Nortek Inc., Nortek Security & Control

Melrose Suspends Dividends, Cuts Executive Pay

April 9, 2020 by Ted Leave a Comment

Parent of Many Top CI Brands Steps in to Adjust for Impact of COVID-19

Melrose logo

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 Pay

Filed Under: Financial, Manufacturers, News, Strategy Tagged With: 2GIG, Elan, Furman, GKN, GoControl, Linear, Melrose, Melrose Industries, Melrose Industries PLC, Melrose PLC, Niles, Nortek, Panamax, SpeakerCraft, Sunfire, Xantech

Once Again, Melrose Considers Disposing of Nortek; This Time It’s Serious

January 22, 2020 by Ted Leave a Comment

Melrose logo

Melrose Industries plc, the British turnaround specialist who acquires underperforming companies to improve their operations and management for resale, is now actively considering selling off the bulk of Nortek in a deal that could be worth $3 billion, according to reports from Bloomberg News and the Financial Times. If they actually execute this sale, it will be a relatively early exit from their ownership of Nortek which they purchased in 2016 for $2.8 billion.

See why Melrose is ready to exit Nortek…

[Read more…] about Once Again, Melrose Considers Disposing of Nortek; This Time It’s Serious

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: acquisition, divestiture, Johnson Controls, Melrose Industries, Melrose PLC, Nortek, Nortek Inc., Nortek Security & Control, United Technologies Corp.

Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

October 18, 2019 by Ted Leave a Comment

Melrose logo

Melrose Industries PLC, a U.K. based investment group that purchased Nortek, Inc. back in 2016, released their fiscal 2019 first half financial results last month (for the period ending June 30, 2019). And while the results showed strong sales growth (thanks to a large acquisition) the company still booked a net loss.

Perhaps more interesting, was that Nortek’s Security & Smart Technology unit figured quite prominently in the document – often for the wrong reasons.

See why Nortek was so prominent…

[Read more…] about Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

Filed Under: Financial, Management, Manufacturers, News, Strategy Tagged With: Melrose, Melrose Industries, Melrose Industries PLC, Melrose PLC, Nortek, Nortek Inc.

Nortek to Reps: Happy New Year, You’re Fired

December 31, 2018 by Ted 1 Comment

BREAKING NEWS

Nortek Security & Control logoOur phones and email lit up over the last few days as word spread that Nortek Security and Control has fired all of the remaining Core Brands reps in the U.S., according to multiple sources. The timing of the terminations over the holidays only seems to add a sense of heartlessness to the action….a real-life ‘bah humbug’ that leaves the reps feeling cold.

See more on the New Year firing of all Nortek field sales reps… [Read more…] about Nortek to Reps: Happy New Year, You’re Fired

Filed Under: Brands, Management, Manufacturers, News, Sales Reps Tagged With: Core Brands, Melrose, Melrose Industries, Melrose PLC, Nortek, Nortek Inc., Nortek Security & Control, sales

Melrose Talks of Disposing of Nortek

October 5, 2018 by Ted Leave a Comment

Are Elan, Speakercraft, Niles, Proficient, etc. In Play Again?

Nortek LogoMelrose 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

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Core Brands, Elan, Furman, Gefen, Linear, Melrose, Melrose Industries, Melrose PLC, Niles, Nortek, Nortek Security & Control, Panamax, Proficient, SpeakerCraft, Sunfire, Xantech

Nortek Sold to British Investment Company

July 6, 2016 by Ted Leave a Comment

BREAKING NEWS

Melrose logoThe 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

Filed Under: General Topics Tagged With: acquisition, AVC, Christopher Miller, Core Brands, Elan, Melrose, Melrose Industries, Melrose PLC, Michael J. Clarke, Niles, Nortek, Nortek Inc., SpeakerCraft, Xantech

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Ted Green Bio

A former dealer, installer, manufac-turer, distributor & more. With a focus on business strategy, my goal is to help you make better decisions for more success.

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