Rheem to acquire Nortek Global HVAC from Madison Industries.

Rheem, an American privately held manufacturer that produces residential and commercial water heaters and boilers, agreed to acquire Nortek Global HVAC, a manufacturer of air conditioning products, from Madison Industries, a premier modular and prefab building manufacturer. Financial terms were not disclosed. "Nortek Global HVAC has a history of delivering market leading innovations going back over 100 years. Like Rheem, NGH has a collaborative culture with an unwavering commitment to the customer. NGH has a remarkable team that brings unique products, operational capabilities, and market channels to complement Rheem’s expanding Air and Water businesses," Mike Branson, Rheem President Global Air.