Nortek Purchases Anthro Corp.
Nortek, through its Ergonomic and Productivity Solutions segment that also includes Ergotron, has agreed to purchase Anthro Corporation, described as "designer and manufacturer of technology furniture."
Financial terms of the deal were not disclosed, except that Nortek "funded the transaction using cash on hand and borrowings under its existing asset-based lending facility."
"Our business has a long history of innovation and prides itself on delivering high-quality products and superior customer service," Pete Segar, group president of Nortek's Ergonomic and Productivity Solutions segment, said in a statement.
"Our collective product portfolio will meet the needs of more customers in our market segments, while we collaborate on developing new products leveraging our combined strengths in design, engineering, manufacturing and marketing. We welcome the Anthro team as we begin to share ideas, information and resources in an effort to enhance the performance of our overall business and bring it to the next level."