Nortek Inc. (Nasdaq: NTK) is buying the heating, ventilation and air conditioning (HVAC) business of Thomas & Betts Corp. for $260 million.

Nortek will acquire Reznor Manufacturing Co. LLC, AmbiRad Ltd., Reznor Europe NV, Gaz Industrie SAS and manufacturing operations in Monterrey, Mexico, through the deal. Thomas & Betts, headquartered in Memphis, Tenn., is a subsidiary of ABBLtd (VTX: ABBN), a power and automation company.

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