Lennox Buys JCI HVAC Business for $1.8B

TL;DR

Lennox is buying JCI's HVAC unit for $1.8B to boost its market share.

AI Summary

Lennox International Inc. announced on May 22, 2025, a definitive agreement to acquire Johnson Controls' residential and light commercial HVAC business for $1.8 billion. This strategic acquisition is expected to significantly expand Lennox's product portfolio and geographic reach, particularly in the North American market.

Why It Matters

This acquisition positions Lennox International as a larger player in the HVAC market, potentially leading to increased competition and innovation in the industry.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and integration challenges, which could impact Lennox's financial performance and operational efficiency.

Key Numbers

• $1.8B — Acquisition Price (Lennox International is acquiring Johnson Controls' residential and light commercial HVAC business for this amount.)

Key Players & Entities

• Lennox International Inc. (company) — Registrant
• Johnson Controls (company) — Seller of acquired business
• 1.8 billion (dollar_amount) — Acquisition price
• May 22, 2025 (date) — Date of agreement

FAQ

From the Filing

0001069202-25-000024.txt : 20250527 0001069202-25-000024.hdr.sgml : 20250527 20250527083412 ACCESSION NUMBER: 0001069202-25-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20250522 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250527 DATE AS OF CHANGE: 20250527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LENNOX INTERNATIONAL INC CENTRAL INDEX KEY: 0001069202 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] ORGANIZATION NAME: 06 Technology EIN: 420991521 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15149 FILM NUMBER: 25984405 BUSINESS ADDRESS: STREET 1: 2140 LAKE PARK BLVD CITY: RICHARDSON STATE: TX ZIP: 75080 BUSINESS PHONE: 972-497-5000 MAIL ADDRESS: STREET 1: 2140 LAKE PARK BLVD CITY: RICHARDSON STATE: TX ZIP: 75080 8-K 1 lii-20250522.htm 8-K lii-20250522 0001069202 false 0001069202 2025-05-22 2025-05-22   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (date of earliest event reported): May 22, 2025 LENNOX INTERNATIONAL INC . (Exact name of registrant as specified in its charter)   Delaware 001-15149 42-0991521 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 2140 LAKE PARK BLVD ., RICHARDSON , Texas 75080 (Address of principal executive offices, including zip code) Registrant’s telephone number, including area code: ( 972 ) 497-5000   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.01 per share LII New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On May 22, 2025, the Board of Directors (the “Board”) of Lennox International Inc. (the “Company”) elected Tracy A. Embree to the Board to serve as a Class III Director, effective June 1, 2025. Ms. Embree’s term will expire at the Company’s 2028 annual meeting of stockholders. Ms. Embree was also named to the Board Governance Committee and the Compensation and Human Resources Committee. Ms. Embree, age 51, is the former President of Otis Americas, a division of Otis Worldwide Corporation, the world’s