Lennox buys 21 dealerships with revenues of $187 million

DALLAS — Lennox International Inc. announced that Lennox Retail Inc., the retail arm of its wholly owned subsidiary, Lennox Industries Inc., has acquired 21 hvac dealerships since Lennox International made its initial public offering on July 29.

Total consideration for these companies consisted of approximately $91 million (U.S.) in cash and stock. Total annualized revenues for the 21 acquired companies are approximately $187 million.

The latest round of acquisitions brings the total hvac dealerships acquired by Lennox to 73 since the company first announced its retail acquisition strategy last year. Total annualized revenues for the 73 acquired companies are approximately $330 million.

“Our unique one-step distribution system has helped our retail acquisition strategy to be especially effective,” said Bob Schjerven, president and chief operating officer, Lennox Industries.

“At the same time, we have significantly strengthened our relationships with both our independent dealers and the 1,300-plus dealers who have joined our Associate Dealer Program.”

“We’re excited at the progress Lennox Retail is making in implementing our North American retail acquisition strategy,” said John Norris, Lennox International chairman and ceo. “We intend to continue researching and pursuing the best-available acquisition opportunities for our long-term strategic plans.

“While there is tremendous growth potential for Lennox in the retail sector, we are balancing that strategy with a continued commitment to the success of our independent and associate dealers.”

Lennox International Inc. is the parent company of Lennox Industries Inc., Armstrong Air Conditioning Inc., Heatcraft Inc., and Lennox Global Ltd.

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

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



Image Galleries

2014 World Energy Engineering Congress

Scenes from the 2014 World Energy Engineering Congress in Washington, D.C.


NEWSMakers: John Lanier

John Lanier of North American Technician Excellence (NATE) stops by the NEWS’ booth at the AHR Expo to discuss NATE’s presence at the show, what’s coming up in 2015, and much more. Posted on Feb. 20.

More Podcasts


NEWS 02-23-15 cover

2015 February 23

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Mobile Workforce

Mobile devices and field management software are spreading in the HVAC industry. Are you utilizing this technology?
View Results Poll Archive


2015 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.


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


facebook icontwitter iconyoutube iconLinkedIn i con