Lennox International
 | |
| Company type | Public |
|---|---|
| Industry | HVAC |
| Founded | 1895 |
| Founder | Dave Lennox |
| Headquarters | , U.S. |
Key people | Alok Maskara, CEO |
| Revenue |  US$4.981 billion (2023) |
| US$590 million (2023) | |
| Total assets | US$2.798 billion (2023) |
| Total equity | US$285 million (2023) |
| Owner | John W. Norris, III (9.8%) |
Number of employees | 12,600 (2023) |
| Website | lennox |
| Footnotes / references [1] | |
Lennox International Inc., headquartered in Richardson, Texas and organized in Delaware, is a provider of climate control products for the heating, ventilation, and air conditioning (HVAC) and refrigeration markets.[1] The company's largest production facilities are in Saltillo, Mexico, Marshalltown, Iowa, and Orangeburg, South Carolina.[1] The company is 9.8% owned by John W. Norris, III, a descendant of DW Norris, who acquired the company in 1904.
History
[edit]
The company was founded in 1895, in Marshalltown, Iowa, by Dave Lennox, the owner of a machine repair business for railroads.[1] Inventors Ezra William Smith and Ernest Bryant brought their idea for a riveted steel coal-fired furnace to his machine shop to build parts for a prototype. In lieu of payment, Lennox accepted their patent, obtaining rights to the idea and founded the Lennox Furnace Co.[2]
In 1904, DW Norris acquired the company. He managed the company until his death in 1949.[3]
From 1964-65, Lennox produced a small crawler tractor and mower called the Lennox Kitty Track 600. It featured a 6 hp (4.5 kW) Briggs & Stratton engine and a 32" mower deck.[4]
In 1999, the company became a public company via an initial public offering.[5]
Acquisitions and divestitures
[edit]In 1971, the company sold its low pressure gas cylinder business to Worthington Industries.[6]
In 1973, Lennox acquired Heatcraft, including the Larkin, Bohn, Chandler, and Climate Control brands.[7]
In 1998, the company acquired Pyro Industries, a manufacturer of pellet stoves.[8]
In December 2010, the company acquired Kysor/Warren from The Manitowoc Company for $138 million.[9]
In September 2023, the company sold its European commercial HVAC and refrigeration businesses to funds managed by Syntagma Capital.[10]
In October 2023, the company acquired AES.[11]
Brands
[edit]The company operates the following brands:[1]
Home Comfort Solutions
[edit]- Lennox
- Dave Lennox Signature Collection
- Armstrong Air
- Ducane
- AirEase
- Concord
- MagicPak
- ADP Advanced Distributor Products
- Allied
- Elite Series
- Lennox Merit Series air conditioner
- Comfort Sync
- Healthy Climate
- Healthy Climate Solutions
- iComfort
- ComfortSense
- Lennox Stores
Building Climate Solutions
[edit]- Lennox
- Model L
- CORE
- Enlight
- Xion
- Energence
- Prodigy
- Strategos
- Raider
- Lennox VRF
- Lennox National Account Services
- Allied Commercial
- Elite
- AES Industries
- AES Mechanical
- ES Reclaim
- Heatcraft Worldwide Refrigeration
- Bohn
- MAGNA
- Larkin
- Climate Control
- Chandler Refrigeration
- Frigua-Bohn
- IntelliGen
- Interlink
Legal issues
[edit]In 1998, the company paid $6.2 million to settle an age discrimination lawsuit brought by 11 former employees and the Equal Employment Opportunity Commission, after the employees, who were 41 to 58 years old, were fired or demoted.[12]
References
[edit]- ^ a b c d e "Lennox International Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 13, 2024.
- ^ "Lennox, David". University of Iowa.
- ^ "Legends of Manufacturing". Times-Republican. October 29, 2016.
- ^ "Lennox lawn tractors sorted by year". TractorData.com.
- ^ "Lennox to Celebrate 25th Anniversary of IPO with Ringing of Closing Bell at the New York Stock Exchange on July 29" (Press release). PR Newswire. July 29, 2024.
- ^ Gearino, Dan (17 May 2013). "Worthington Industries expands with oil, gas boom". The Columbus Dispatch.
- ^ "Lennox International Acquires Heatcraft". Mergr.com.
- ^ Wilhelm, Steve (August 16, 1998). "Pellet-stove pioneer is bought by Texas giant". American City Business Journals.
- ^ "Lennox Acquires Kysor/Warrenfrom Manitowoc". Endeavor Business Media. December 15, 2010.
- ^ "Lennox Announces Agreement to Sell European Commercial HVAC and Refrigeration Businesses" (Press release). PR Newswire. September 21, 2023.
- ^ "Lennox Acquires AES to Expand Commercial HVAC Services" (Press release). PR Newswire. October 25, 2023.
- ^ "Lennox settles lawsuit". American City Business Journals. May 11, 1998.
External links
[edit]- Official website
- Business data for Lennox International Inc.:
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