Lennox International Completes $550 Million Acquisition of NSI Industries’ HVAC Division

Lennox International Inc. (NYSE: LII) announced on October 16, 2025 that it has finished the purchase of the HVAC division of NSI Industries from private‑equity owner Sentinel Capital Partners. The transaction was completed in cash for approximately $550 million and includes the well‑known Duro Dyne and Supco brands. The deal expands Lennox’s portfolio of HVAC parts and supplies and strengthens its position in both residential and commercial markets.

Transaction Details

  • Purchase price: $550 million in cash.
  • Seller: Sentinel Capital Partners, a private‑equity firm that had previously acquired the HVAC division of NSI Industries.
  • Assets acquired: HVAC division of NSI Industries, including Duro Dyne and Supco brands.
  • Strategic benefit: The addition of these brands enhances Lennox’s ability to serve a broader range of customers with energy‑efficient climate control solutions.

Market Reaction

The acquisition was reported by multiple news outlets, including Reuters, Benzinga, and PRNewswire, all confirming the completion date and financial terms. The transaction was viewed as a significant expansion for Lennox, a leader in the building products sector that designs, manufactures, and markets heating, ventilation, air conditioning, and refrigeration equipment worldwide.

Analyst Coverage

  • JP Morgan: Revised the price target for Lennox while maintaining an underweight rating, citing the strategic fit of the acquisition.
  • Mizuho: Lowered its price target to $565, keeping a neutral stance on the stock.
  • Other analysts: No new guidance was issued beyond the price target adjustments noted above.

Company Context

  • Stock price (October 16, 2025): $522.95.
  • 52‑week high: $689.44 (July 22, 2025).
  • 52‑week low: $500.10 (April 8, 2025).
  • Market capitalization: $19.2 billion.
  • Price‑earnings ratio: 22.195.

Lennox International’s acquisition of the NSI HVAC division is expected to reinforce its market presence and provide new revenue streams from the Duro Dyne and Supco brands. The company’s leadership has indicated that the integration will be completed in the coming quarters, with an emphasis on leveraging existing manufacturing and distribution capabilities.