LII News & Events

Lennox announced that it has signed a definitive agreement to acquire Heat Controller, a HVAC equipment supplier. Heat Controller serves distributors across North America through its established Comfort-Aire and Century brands. The acquisition is expected to close later this year, subject to customary closing conditions and regulatory approvals.

The board of directors at Lennox approved an increase in the quarterly dividend from $1.30 to $1.36 per share of common stock, payable July 15 to stockholders of record as of June 30.

Sentinel Capital Partners announced it has signed a definitive agreement to sell NSI Industries, a manufacturer and supplier of branded electrical products, to Hubbell (HUBB) for $3B. Following Sentinel's 2024 acquisition of NSI, the firm executed a key strategic initiative by divesting NSI's HVAC division to Lennox International (LII) for approximately $550M. This repositioned NSI as a pure-play manufacturer of branded electrical products, enabling greater operational focus and unlocking significant value.