DALLAS, Aug. 25,
2023 /PRNewswire/ -- Lennox (NYSE: LII), a leader in
energy-efficient climate-control solutions, announces it has
entered into a definitive agreement to sell its Hyfra Process
Cooling business unit, headquartered in Krunkel, Germany, to the Glen Dimplex Group. The
closing of the transaction is subject to obtaining required
consents and customary closing conditions. The transaction is
expected to be completed in the fourth quarter of 2023.
"Divesting this European business will enable us to continue our
focused strategy on North America
where we are best positioned to achieve our revenue growth and
profit margin targets," said Chief Executive Officer Alok Maskara.
"I want to thank the dedicated and talented employees in our
Hyfra Process Cooling business for their many contributions to
Lennox over the years. I am confident that Hyfra will be best
positioned for continued success as part of the Glen Dimplex
Group," Maskara concluded.
Glen Dimplex Chief Executive Officer Fergal Leamy stated, "We are delighted to
announce our acquisition of Hyfra in Germany and extend a warm welcome to all
employees joining Glen Dimplex Group. This strategic acquisition
marks an important milestone for Glen Dimplex, enabling us to
further expand our precision cooling business globally, and align
with customer needs as we transition to a more sustainable
future."
ABOUT LENNOX
Lennox (NYSE: LII) is a leader in energy-efficient
climate-control solutions. Dedicated to sustainability and creating
comfortable and healthier environments for our residential and
commercial customers while reducing their carbon footprint, we lead
the field in innovation with our cooling, heating, indoor air
quality, and refrigeration systems. Additional information on
Lennox is available at investor.lennox.com or by contacting
investor@lennoxintl.com.
ABOUT GLEN DIMPLEX
Glen Dimplex is a privately owned, Irish headquartered,
international manufacturing group with a 50-year heritage,
operating across four product areas: Heating & Ventilation,
Precision Cooling, Flame and Consumer Appliances. Glen Dimplex
offers a portfolio of products and solutions that span living and
working environments, all created with a simple and shared mindset
of helping customers to transition to a more sustainable world by
empowering them in their everyday lives.
Website https://www.glendimplex.com/en-ie
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SOURCE Lennox International Inc.