Nortek acquires residential HVAC equipment distribution business

NORTEK INC. has acquired the HVAC distribution business of privately-owned Phoenix Wholesale Inc.
NORTEK INC. has acquired the HVAC distribution business of privately-owned Phoenix Wholesale Inc.

PROVIDENCE – Nortek Inc. has acquired the HVAC distribution business of privately-owned Phoenix Wholesale Inc.
Operating out of five facilities in Arizona, including locations in Flagstaff, Tempe and Tucson, the business will be integrated into Nortek’s Residential Heating and Cooling segment, according to a news release from Nortek.
Nortek expects the transaction, funded from existing cash on hand, to generate incremental revenue in the range of $15 million to $20 million over the next 12 months.
“Adding Phoenix Wholesale’s residential HVAC business advances our strategy of expanding our RHC segment’s distribution footprint in regions where we currently have minimal market penetration,” Nortek President and CEO Michael J. Clarke said in statement. “With this acquisition, we now have 12 company-owned distribution locations.”

Nortek’s Residential Heating and Cooling segment offers a variety of energy-efficient products for the residential, manufactured housing and light commercial markets, including central air conditioners, heat pumps, furnaces and unit heaters.

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