Melrose Industries Plc has announced that their financial results for fiscal 2020 and it wasn’t pretty. The company swung to a net loss on lower revenues. They said this was mostly due to the Coronavirus pandemic’s massive impact on its GKN Aerospace division. To streamline operations and raise cash, Melrose told the press that it has again put Nortek up for sale.
Melrose
Major Credit Agencies Downgrade Outlook for GKN – Biggest Melrose Company

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

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 ResultsNortek to Reps: Happy New Year, You’re Fired
BREAKING NEWS
Our 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
Melrose 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
Look Out Nortek, Here Come the Lawyers
Acquirer Melrose Offers a Peek at Its Plans
The ink is barely dry on their agreement to be acquired by Britain’s Melrose Industries PLC, and already Nortek Inc. finds themselves the subject of multiple investigations by several major law firms who have publicly notified shareholders this deal may not be a good one for them. It is not clear if these law firms intend to take action yet, but if so, it could be a complicating factor in the transaction.
See who is stepping up to investigate Nortek… [Read more…] about Look Out Nortek, Here Come the Lawyers
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.