# Lennox sells European commercial HVAC and refrigeration business to Syntagma Capital

Lennox entered into an agreement to sell its European commercial HVAC and refrigeration businesses, headquartered in Lyon, to funds managed by Syntagma Capital. The deal covers manufacturing and distribution in Europe, the Middle East, and Africa, with three production facilities in France and Spain.

- Type: Acquisition
- Announced: 2023-09-21
- Where: Lyon, France, France
- Jobs: 980
- Status: announced
- Products: unitary HVAC products, applied systems, refrigeration products
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Lennox](https://endata.com/companies/328.md)
- [Lennox International](https://endata.com/companies/28657.md)
- [Lennox](https://endata.com/companies/328.md) (acquirer)
- [Lennox](https://endata.com/companies/328.md) (partner)
- [AES Corporation](https://endata.com/companies/20282.md) (target)
- [Lennox International](https://endata.com/companies/28657.md) (partner)
- [Lennox International](https://endata.com/companies/28657.md) (target)
- [Syntagma Capital](https://endata.com/companies/68722.md) (acquirer)
- [Lennox EMEA](https://endata.com/companies/72443.md) (target)

## Sources

- [coolingpost.com](https://www.coolingpost.com/world-news/lennox-sells-european-business/), 2023-09-21: "The agreement to sell the European commercial HVAC and refrigeration business will be the best way to bring closure to our portfolio simplification decision announced last year."
- [refindustry.com](https://refindustry.com/news/acquisition-by-syntagma-capital-signals-a-bright-new-future-for-lennox-emea/), 2023-09-22: "This strategic move will strengthen and consolidate Lennox EMEA’s position in the European HVACR market, opening the door to new business opportunities."
- [achrnews.com](https://www.achrnews.com/articles/153611-lennox-to-sell-european-commercial-hvacr-businesses), 2023-09-22: "Lennox has agreed to sell its European commercial HVAC and refrigeration businesses, headquartered in Lyon, France, to funds managed by Syntagma Capital."
- [businesswire.com](https://www.businesswire.com/news/home/20230924154803/en/SYNTAGMA-CAPITAL-Enters-Into-Exclusive-Negotiations-to-Acquire-Lennox-European-Commercial-HVAC-and-Refrigeration-Divisions), 2023-09-25: "Syntagma Capital today announces that it has entered into exclusive negotiations with Lennox International to acquire its European Commercial HVAC and Refrigeration businesses."
- [achrnews.com](https://www.achrnews.com/articles/153666-fyi-news-briefs-in-hvac-october-9-2023), 2023-10-09: "Lennox International plans to sell its European commercial HVAC and refrigeration businesses to funds managed by Syntagma Capital."
- [prnewswire.com](https://www.prnewswire.com/news-releases/lennox-acquires-aes-to-expand-commercial-hvac-services-301967673.html), 2023-10-25: "AES represents a strong strategic and cultural fit for the Lennox Commercial segment and is consistent with our growth strategy."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.