6 June 2022 - disposal
The company has announced the disposal of the last business it acquired following the purchase of Nortek in 2016. Following the disposal of Nortek Air Management and Nortek Control last year, Ergotron was the only business remaining from the original purchase and this has now been sold for total consideration of around $650m (£520m) in cash. The business is being acquired by funds managed by Sterling Group. In the year to 31st December 2021, the company generated adjusted operating profit of £58m and gross assets at the year end were £617m although most of this was . . .
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