The group consolidates 10 residential brands from Nortek’s technology solutions segment. The brands are Aton, BlueBolt, Elan, Furman, Niles, Panamax, Proficient, SpeakerCraft, Sunfire and Xantech.
Nortek contended that combining its audio, power management and control brands will leverage economies of scale and strengthen the group’s ability to invest in new technologies and marketing programs.
The company also announced the group would be headquartered in Petaluma, CA.
Nortek president and CEO Michael J. Clarke said he expects “that combining the unique capabilities of each of these 10 formidable brands will deliver new and powerful benefits they can only achieve as a group.” The consolidation “reflects the strategic refocusing currently taking place as we pursue new markets and new opportunities to serve our dealers, channel partners and end users,” he continued.
Sean Burke, group president of Nortek’s technology solutions segment, also contended that combining the brands “will allow us to deliver more localized and responsive factory training and product support expertise.” The initiatives should position the brands to improve their business performance and “increase their penetration of unserved and underserved market segments during a period of generally improving business conditions in their respective distribution channels,” he said.
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