Lennox Buys NSI HVAC Division for $550M to Expand North America Reach

Post by : Ramanpreet Kaur

Photo : Website / lennox

Lennox International (NYSE: LII), a well-known leader in energy-efficient climate control solutions, has announced that it will buy the HVAC division of NSI Industries from Sentinel Capital Partners for about $550 million. The deal, expected to close by the fourth quarter of 2025, will add some of the industry’s most trusted brands—Duro Dyne, Supco, and others—to the Lennox portfolio.

This acquisition is seen as a major step that will help Lennox grow stronger in the heating, ventilation, air conditioning, and refrigeration (HVAC/R) industry across North America.

Why the Deal Matters

The HVAC market is one of the fastest-growing parts of the global economy as demand for climate control solutions continues to rise. By adding NSI’s HVAC division, Lennox will expand its range of critical components, parts, and accessories that are needed in both residential and commercial projects.

The acquisition also improves Lennox’s distribution and digital capabilities, making it easier for customers to access what they need while ensuring faster and more reliable service.

CEO’s Vision for Growth

Alok Maskara, CEO of Lennox, said the move shows the company’s focus on becoming a one-stop partner for HVAC solutions.

“This acquisition strengthens our ability to deliver complete lifecycle solutions for residential and commercial customers,” Maskara said. “By adding trusted heritage brands like Duro Dyne and Supco, we are answering our customers’ request for a broader parts and supplies offering.”

He also highlighted Lennox’s long history of innovation, noting that the company recently celebrated 130 years in the HVAC industry. He welcomed the new employees who will join from NSI and expressed confidence that the partnership will help transform the HVAC market across North America.

The Strength of Duro Dyne and Supco

Both Duro Dyne and Supco bring a strong legacy to Lennox:

• Duro Dyne is a market leader in mission-critical HVAC/R components and accessories.

• Supco is well known for high-performance, technician-focused parts that help HVAC professionals deliver better service.

Together, these brands will complement Lennox’s current products, offering customers a more complete range of solutions. They also have manufacturing and distribution centers across the U.S. and Canada, which will make it easier to serve regional markets.

Reactions from NSI’s Team

John MacQuarrie, President of NSI’s HVAC division, welcomed the acquisition.

“My team members and I are excited to join Lennox,” he said. “With Lennox’s resources, we can build on our legacy of more than 70 years. Our cultures of excellence and innovation will create more benefits for employees, partners, and customers.”

Industry Impact

Experts believe this acquisition will have a wide impact on the HVAC industry. Customers will benefit from:

1. More product choices – from core HVAC units to specialized parts and supplies.

2. Improved service – thanks to Lennox’s strong distribution network.

3. Innovation and efficiency – combining the experience of Lennox with the strong heritage of Duro Dyne and Supco.

It also signals a growing trend of consolidation in the HVAC industry, as companies look to strengthen their supply chains, reduce costs, and meet the rising demand for energy-efficient solutions.

Looking Ahead

The deal still requires approval from regulators but is expected to be finalized by the end of 2025. Once completed, it will position Lennox as a more powerful player in North America’s HVAC market, capable of delivering everything from large climate systems to the smallest critical parts.

For customers, employees, and partners, the acquisition shows how Lennox is preparing for the future: a future where clean, efficient, and reliable climate solutions will be more important than ever.

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