Platinum Equity to Sell Heat Controller to Lennox
Deal positions HVAC equipment supplier for continued growth

Platinum Equity said it has signed a definitive agreement to sell Heat Controller, an HVAC equipment supplier, to Lennox (NYSE: LII).
Headquartered in Jackson, Michigan, Heat Controller serves distributors across North America through its Comfort-Aire and Century brands. Platinum Equity acquired the company in 2024 as part of its investment in Motors & Armatures Inc. (MARS), a distributor of HVACR parts, supplies, and equipment.
For contractors, the transaction brings two established brands under the Lennox umbrella and continues the manufacturer’s broader effort to expand its equipment, parts, and supply offerings.
Lennox previously acquired the HVAC division of NSI Industries, including the Duro Dyne and Supco brands, as part of a strategy to provide more comprehensive lifecycle solutions for residential and commercial customers.
Platinum Equity Co-President Jacob Kotzubei said the sale concludes the firm’s investment in MARS and reflects efforts to create value through product introductions, acquisitions, leadership investments, and strategic divestitures.
“We believe Lennox is an ideal strategic home for the Heat Controller business and are confident the company is well positioned to continue building on its momentum in this next chapter as part of the Lennox platform,” said Platinum Equity Managing Director Dan Krasner.
The transaction is expected to close later this year, subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.
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Heat Controller President and CEO Philip Windham said the company plans to maintain the service and flexibility customers have come to expect.
“We are excited to begin our next chapter with Lennox and continue delivering the service, flexibility and value our customers depend on,” Windham said.
Heat Controller traces its roots to 1907 and markets residential and commercial equipment under the Comfort-Aire and Century brands. The company has long focused on supplying independent distributors across North America with value-oriented heating and cooling products.
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