Anthro Corp. became a potential target for acquisition after its line of standing desks yielded the company a strong 2014.
BY JACOB PALMER | OB DIGITAL EDITOR
Anthro Corp. became a potential target for acquisition after its line of standing desks yielded the company a strong 2014.
The Portland Business Journal reported the deal on Wednesday.
Anthro Corp. and Nortek Inc. (Nasdaq: NTK), of Providence, reached the deal Tuesday. Orca Capital Securities LLC represented Anthro in the deal.
Nortek is “a global diversified industrial company with leading brands, innovative air management, and technology-driven products and solutions for residential and commercial applications.”
PBJ’s Andy Giegerich interviewed Norm Duffett, of Orca, who said the deal won’t hurt Oregon employees.
Anthro is a great strategic fit for Nortek’s Ergotron division, so its products are additive for the most part. Anthro manufactures locally with great design, engineering and manufacturing capabilities. They’re able to do shorter runs and to supply customers quickly.
Nortek intends to keep manufacturing here and grow the business, so there’s greater opportunity for employees in a larger organization.
Read more here.
