Lennox sells European commercial HVAC business
September 27, 2023 | By HPAC Magazine
The company is placing its focus on the North American market.
Lennox has entered into an agreement to sell its European commercial HVAC and refrigeration businesses, headquartered in Lyon, France, to funds managed by Syntagma Capital.
The transaction is expected to be completed by the end of this year.
“The agreement to sell the European commercial HVAC and refrigeration business will be the best way to bring closure to our portfolio simplification decision announced last year,” said Lennox CEO Alok Maskara in a media release. “Our focus on North America will enable us to better serve our customers and achieve growth acceleration and margin resiliency,” he added.