Lennox and Samsung team up

Lennox and Samsung have announced they have signed an agreement forming a joint venture to sell ductless AC and heat pump (mini-split, multi-split, VRF) products in Canada and the United States. The newly-established joint venture will be called Samsung Lennox HVAC North America.

Samsung will own 50.1 per cent of the joint venture and Lennox will own the remaining 49.9 per cent.

Lennox will sell “Lennox powered by Samsung” branded products through its stores and direct-to-dealer network. The joint venture will continue to supply Samsung-branded products to the existing Samsung HVAC distributors and representatives in Canada and the U.S.

Pending customary closing conditions, the joint venture is expected to be operational in the second half of 2024, after which Lennox will purchase VRF, and low-GWP mini-split and multi-split products from the joint venture.  Lennox and Samsung will appoint the joint venture’s CEO and CFO, and the business headquarters and operations will be based in Roanoke, TX.

Lennox

Samsung HVAC

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