HPAC Magazine

Lennox and Samsung enter joint venture

May 28, 2024 | By HPAC Magazine


Samsung Lennox HVAC North America will sell ductless and VRF systems in Canada and the U.S.

Samsung Electronics has agreed to form a joint venture with Lennox, called Samsung Lennox HVAC North America, to sell ductless HVAC systems in Canada and the U.S.

Samsung will own 50.1% of the joint venture and Lennox will own the remaining 49.9%.

“It is a great pleasure to take the first step in creating a long-term HVAC industry-leading partnership with Lennox,” said KS Choi, president/CEO of Samsung Electronics America.

The joint venture will be distributing Samsung ductless products in Canada and the U.S. as well as “Lennox powered by Samsung”-branded products for Lennox, which will be sold through Lennox stores and direct-to-dealer network.

The joint venture will continue to supply Samsung branded products to the existing Samsung HVAC distributors and representatives in both countries.

Samsung expects the joint venture will help strengthen its position in the North American HVAC market by adding Lennox’s distribution channels, while Lennox is expected to reinforce its business by expanding the product lineup of ductless systems from Samsung.

Samsung Lennox HVAC North America aims to strengthen its residential and homebuilder business in North America and will continue to seek more partnership opportunities and collaboration with homebuilders across various product categories from home appliances to TV, as well as in device parts and technology.

Based in Roanoke, Texas, the new joint venture is expected to be operational in the second half of 2024.

 

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