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  6. Lennox International Acquires NSI Industries HVAC Division

M&A Deal Summary

Lennox International Acquires NSI Industries HVAC Division

On August 18, 2025, Lennox International acquired business services company NSI Industries HVAC Division from NSI Industries for 550M USD

Acquisition Highlights
  • This is Lennox International’s 1st transaction in the Business Services sector.
  • This is Lennox International’s largest (disclosed) transaction.
  • This is Lennox International’s 4th transaction in the United States.
  • This is Lennox International’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2025-08-18
Target NSI Industries HVAC Division
Sector Business Services
Buyer(s) Lennox International
Sellers(s) NSI Industries
Deal Type Divestiture
Deal Value 550M USD

Target

NSI Industries HVAC Division

Huntersville, North Carolina, United States
NSI Industries' HVAC Division includes Duro Dyne, Supco, and other critical component and accessory brands. It delivers a comprehensive, integrated portfolio of parts and supplies supported by enhanced digital and distribution capabilities across North America that elevate the customer experience.

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Buyer(S) 1

Buyer

Lennox International

Richardson, Texas, United States
Category Company
Founded 1895
Sector Test/Measurement Equipment
Employees14,200
Revenue 5.3B USD (2024)
DESCRIPTION
Lennox International's corporate headquarters in Richardson, Texas.
Lennox International's corporate headquarters in Richardson, Texas.

Lennox International is a provider of climate control solutions for the heating, air conditioning and refrigeration markets. Lennox International was formed in 1895 and is based in Richardson, Texas.

DEAL STATS #
Overall 4 of 4
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 2 of 2
State: North Carolina M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-21 Lennox - European Commercial HVAC and Refrigeration Businesses

Lyon, France

Lennox's European Commercial HVAC and Refrigeration Businesses manufactures and sells unitary HVAC products and applied systems. Lennox's European Commercial HVAC and Refrigeration Businesses is based in Lyon, France.

Sell -

Seller(S) 1

SELLER

NSI Industries

Huntersville, North Carolina, United States
Category Company
Founded 1975
Sector Electrical Equipment
DESCRIPTION

NSI Industries is a provider of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. NSI Industries was established in 1975 and is based in Huntersville, North Carolina.

DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-19 Duro Dyne

Bay Shore, New York, United States

Duro Dyne is a manufacturer of sheet metal accessories and equipment for the HVAC industry, offering sheet metal contractors and installers the widest variety of products specific to their trade. Duro Dyne was established in 1952 and is based in Bay Shore, New York.

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