Madison Industries Agrees to Acquire Nortek Air to Bolster Indoor Air Quality Offering

Acquisition allows Madison to better serve its indoor air quality customers

April 19, 2021 – CHICAGO – Madison Industries, one of the world’s largest privately held companies, announced today an agreement to acquire Nortek Air, a leader in providing critical air management, thermal and HVAC solutions. The deal adds strong Nortek brands such as Broan, NuTone, Reznor, StatePoint, Zephyr, Huntair and many others to Madison’s robust portfolio of indoor air quality solutions.

“The global pandemic has put a spotlight on the importance of indoor air quality,” said Madison founder Larry Gies. “The Nortek Air businesses perfectly complement our portfolio of companies that provide solutions to improve the quality of indoor air.Our mission is to make the world safer, healthier and more productive and the addition of Nortek Air with its 6,000 passionate employees allows us to deliver even more of that mission.The Madison team is committed to improving indoor air quality and delivering solutions that provide healthy air for its customers.”

Nortek Air, currently a subsidiary of Melrose Industries PLC (LON: MRO), represents a range of world class products spanning custom and commercial air solutions for high-performance environments, residential and commercial HVAC and fresh air ventilation systems for homes.Its extensive family of brand s represents a combined total of more than 390 years of experience providing solutions for a variety of markets including healthcare, education, data center, pharmaceutical, industrial,residential, office and clean room.Its technology not only delivers improved air quality for indoor spaces, but also increases energy efficiency, reduces operating costs, maximizes performance, lowers noise pollution and ensures system reliability.

The addition of Nortek Air positions Madison Industries to better serve its customers by providing a full suite of air hygiene solutions to improve indoor air quality for the health and longevity of building occupants.

The acquisition is slated to close this summer.

About Madison Industries

Madison Industries is one of the largest and most successful privately held companies in the world. Madison builds entrepreneurially driven, branded market leaders that are committed to making the world safer, healthier and more productive by creating innovative solutions that deliver outstanding customer value.The team at Madison is committed to building something truly remarkable that long outlasts them while coaching others to reach their highest potential. Please visit www.madison.net and www.madisoniaq.com to learn more.

For further information, please contact Matt Huser, Chief Marketing Officer, at mhuser@madison.net.