BRUSSELS, Sept 25 (Bernama-BUSINESS WIRE) — Syntagma Capital today announces that it has entered into exclusive negotiations with Lennox International (NYSE: LII) to acquire its European Commercial HVAC and Refrigeration businesses. The HVAC division designs and manufactures commercial heating, air conditioning and air handling equipment. The Commercial Refrigeration division designs and manufactures commercial evaporators, condensing units, condensers, and dry coolers. The Businesses serve customers in the industrial, retail, logistics, residential, office and HORECA sectors in over 40 countries. The Businesses are headquartered in Lyon, France and employ ca. 940 people across 4 sites and their commercial organization. In 2023, Lennox EMEA is expected to generate ca. €200m in revenues.
The proposed transaction, which is subject to the fulfillment of customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed by the end of 2023.