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 … Continue reading

Core Brands Moved Under Control of Nortek’s SCS Group

In a reorganization at Nortek, Core Brands, previously a freestanding, underperforming segment of the company, has been moved under the control of Nortek’s Security and Control Solutions Group, it was announced internally this week. With this change, Core Brands President … Continue reading

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 … Continue reading

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 … Continue reading

Department of Justice Says It Will Not Charge Nortek in Bribery Scandal

SEC Forces Nortek to Forfeit Profits Resulting from the Bribe The Department of Justice (D.O.J.) has notified Nortek, Inc. that it has closed its investigation into a corporate bribery scandal involving the company’s operations in China and will take no … Continue reading

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 … Continue reading

Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding

Nortek, Inc., a diversified manufacturer that through its Core Brands division markets several brands in the custom integration channel, released this week its fiscal 2015 fourth quarter and full year results. Overall, the results were mixed, as the company continues … Continue reading

Core Brands Turns to Vision Werks for ‘Brand Protection Program’

At last month’s CEDIA Expo, Core Brands announced that it has retained Vision Werks Consulting to help it establish a brand protection program. According to Core Brands release, Vision Werks will primarily be involved in issues revolving around unauthorized online … Continue reading

Wall Street Reacts to Negative Nortek Q3 Numbers; AVC Sales Drop 36.8%

Company Blames Declines on ‘Negative Impact’ of United Technologies Unsuccessful Acquisition Bid Nortek, Inc. stock dropped more than 9.3% in early afternoon trading Wednesday in the wake of a report released by the company after the close of business Tuesday … Continue reading