Lennox to Acquire NSI Industries' HVAC Division for $550 Mln

Lennox International has agreed to acquire NSI Industries' HVAC division for approximately $550 million. The deal includes Duro Dyne and Supco brands, which offer a comprehensive portfolio of HVAC parts and supplies. The acquisition enhances Lennox's ability to deliver integrated solutions for commercial and residential customers across North America. The deal is expected to close in Q4 2025, subject to regulatory approvals.

Lennox International Inc. (LII), a leading provider of energy-efficient climate control solutions, has announced a definitive agreement to acquire the HVAC division of NSI Industries from Sentinel Capital Partners for approximately $550 million. The acquisition includes well-known brands such as Duro Dyne and Supco, which offer a comprehensive portfolio of HVAC parts and supplies.

This strategic move aims to enhance Lennox's ability to deliver integrated solutions for both commercial and residential customers across North America. The acquisition will expand Lennox's parts and supplies portfolio, bolstering its digital and distribution capabilities.

Alok Maskara, CEO of Lennox, stated, "This acquisition strengthens our ability to deliver complete lifecycle solutions for residential and commercial customers and reinforces our position as a one-stop partner for the HVAC industry" [1]. The acquisition is expected to close in the fourth quarter of 2025, subject to various regulatory approvals.

Duro Dyne and Supco are recognized for their robust product portfolios, with Duro Dyne specializing in mission-critical HVAC/R components and accessories and Supco focusing on high-performing, technician-focused HVAC/R parts. These brands complement Lennox's existing residential and commercial HVAC products, with distribution and manufacturing sites across the USA and Canada.

John MacQuarrie, President of NSI Industries' HVAC division, expressed excitement about joining Lennox, stating, "The resources Lennox brings us will help us ensure our legacy of success, built over 70+ years by our team members and channel partners, continues" [2].

This acquisition signals Lennox's commitment to innovation and expansion within the HVAC industry, further solidifying its position as a key player in energy-efficient climate control solutions.

References:

[1] https://www.prnewswire.com/news-releases/lennox-signs-agreement-to-acquire-hvac-division-of-nsi-industries-302531774.html
[2] https://www.nasdaq.com/articles/lennox-intl-buy-hvac-division-nsi-industries-sentinel-capital-about-550-mln