Lennox and Ariston form joint venture for North American water heater market

Lennox and Ariston Group have announced a joint venture to offer residential water heaters in the United States and Canada. The partnership will combine Lennox’s brand presence and distribution networks with Ariston Group’s water heating technology and manufacturing expertise.

The new company, Ariston Lennox Water Heating North America, will be jointly owned, with Ariston USA holding 50.1% and Lennox owning 49.9%. The joint venture is expected to begin operations after standard closing conditions are met.

Starting in 2026, water heaters under the Lennox brand will be available through Lennox stores, its direct-to-dealer network, and distributor channels. Ariston USA will continue selling water heaters under its existing brands to its current customer base.

“This joint venture aligns with our strategy to deliver accelerated growth by expanding our product offerings within the residential market, further strengthening our customer relationships,” said Alok Maskara, Chief Executive Officer of Lennox. “The new joint venture’s offerings…will enable a perfect home comfort environment.”

Ariston Group entered the North American market in 2016 through three acquisitions. “We are pleased to announce this new chapter with Lennox…This joint venture allows us to add to our existing commercial presence and brands an alliance with a strong partner,” said Paolo Merloni, Executive Chairman of Ariston Group.

Leadership for the new company will be jointly appointed by both partners.