Lennox Announces Agreement To Sell European Commercial HVAC And Refrigeration Businesses; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Lennox (NYSE:LII) has announced an agreement to sell its European commercial HVAC and refrigeration businesses to funds managed by Syntagma Capital. The transaction is expected to be completed in Q4 2023. The move is part of Lennox's portfolio simplification decision announced last year, focusing on North America to better serve customers and achieve growth acceleration and margin resiliency.
September 21, 2023 | 1:05 pm
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Lennox's decision to sell its European commercial HVAC and refrigeration businesses could streamline its operations and potentially improve its financial performance, focusing on North America.
The sale of Lennox's European businesses is a strategic move to simplify its portfolio and focus on North American markets. This could potentially lead to improved operational efficiency and financial performance, which could positively impact the company's stock price in the short term.
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