Lennox, a prominent manufacturer of energy-efficient climate control systems, has reached a definitive agreement to acquire the HVAC division of NSI Industries from Sentinel Capital Partners in a deal valued at roughly $550 million. The purchase brings well-known brands such as Duro Dyne and Supco into Lennox’s growing portfolio, along with other key HVAC component and accessory lines.
The acquisition, Lennox says, will expand its ability to offer a fully integrated range of parts and supplies, strengthened by improved digital and distribution assets across North America.
“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,” said Alok Maskara, CEO of Lennox. “By adding trusted heritage brands including Duro Dyne and Supco into our portfolio, we are responding to the needs of our customers who have asked for a broader parts and supplies offering. As a company, Lennox just celebrated 130 years of HVAC innovation, and I look forward to welcoming the new employees from this acquisition as we come together to further transform the North American HVAC industry.”
Duro Dyne, regarded as a market leader in HVACR components and accessories, and Supco, known for technician-focused HVACR parts, both maintain distribution and manufacturing operations throughout the United States and Canada. Their products will complement Lennox’s existing lines for residential and commercial customers.
NSI Industries HVAC President John MacQuarrie commented on the transition, saying, “My team members and I are excited to join Lennox. 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. We are pleased that our HVAC business has found a home in Lennox, and I believe our cultures of excellence and innovation will produce greater benefits for all.
The transaction is expected to close in the fourth quarter of 2025, pending regulatory approval. Further information about the acquisition can be found at investor.lennox.com.
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