DALLAS, Sept. 21,
2023 /PRNewswire/ -- Lennox (NYSE: LII), a leader in
energy-efficient climate-control solutions, announces it 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 closing of the transaction is subject to obtaining
required consents, works council consultations, and customary
closing conditions. The transaction is expected to be completed in
the fourth quarter of 2023.
"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. Our focus on
North America will enable us to
better serve our customers and achieve growth acceleration and
margin resiliency," said Chief Executive Officer Alok Maskara.
"Our European commercial HVAC and refrigeration businesses have
been part of Lennox for many years, and I want to thank the
talented employees of those businesses for their dedication and
contributions." Maskara concluded.
ABOUT LENNOX
Lennox (NYSE: LII) is a leader in energy-efficient
climate-control solutions. Dedicated to sustainability and creating
comfortable and healthier environments for our residential and
commercial customers while reducing their carbon footprint, we lead
the field in innovation with our cooling, heating, indoor air
quality, and refrigeration systems. Additional information on
Lennox is available at investor.lennox.com or by contacting
investor@lennoxintl.com.
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SOURCE Lennox International Inc.