In other news, the previously announced Nortek Holdings sale has been completed (SUPPLY HOUSE TIMES, September 2004, page 15). The $1.75 billion Nortek Holdings is now owned by Thomas H. Lee Partners, in partnership with Nortek Chairman and CEO Richard Bready. Affiliates of Kelso and Co. previously had owned a majority of Nortek's capital stock.
People On The Move … Nortek Holdings Inc.
October 10, 2004
Nortek Holdings Inc. announced the retirement of Robert E.G. Ractliffe, its executive vice president and chief operating officer since January 2002. He had previously served as president and CEO of Nortek's former subsidiary Ply Gem Industries Inc. from 1997 to 2001. He was also CEO of Nordyne Inc., Nortek's wholly owned subsidiary from 1989 to 1997.