News / Service Market

Lennox International Plans to Sell Service Experts

DALLAS — Lennox International Inc. announced plans to divest its Service Experts business, which consists of dealer-contractors providing heating and cooling equipment installation and service primarily to the residential market.

“Lennox International is affiliated with thousands of independent dealer-contractors serving the residential market across North America with our Lennox and Allied brands of equipment,” said Todd Bluedorn, chairman and CEO. “Service Experts consists of 108 dealer-contractor branches, and strategically, it is not necessary for these to be owned by the company. With the recovery in the North American residential market this year and the interest from potential acquirers, we are planning to sell this business as well as establish a supply agreement for our equipment with the future owner of Service Experts.”

The company will retain the commercial service business called Lennox National Account Services (NAS) that was reported within its Service Experts business segment. Revenue for the Service Experts business segment was $529 million in 2011, $80 million of which was from the NAS business.

The company expects to report the non-NAS Service Experts business in discontinued operations beginning with the third quarter of 2012. NAS will be reported under the company’s Commercial Heating & Cooling business segment. The company will provide current and historical financial results adjusted for discontinued operations and the move of NAS to the Commercial segment at the time of the third-quarter 2012 earnings release on Oct. 22, 2012.

Publication date: 10/8/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: John Missell

John Missell, vice president and COO of Spectrum Design, joins the program to discuss how his company has utilized geothermal technologies, and we examine the future of renewable energy resources. Posted on Aug. 15.

More Podcasts

ACHRNEWS

NEWS 08-18-14 cover

2014 August 18

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Prohibiting HFCs

EPA is proposing a rule that would prohibit some HFCs in select refrigeration applications. Do you agree with this move?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con