Subscribe to the daily news Sign in
En
Samsung and Lennox Form Joint Venture for HVAC Systems in North America

Samsung and Lennox Form Joint Venture for HVAC Systems in North America

Lennox International Inc. and Samsung have announced the establishment of a joint venture named Samsung Lennox HVAC North America to sell ductless mini split, air conditioning (AC), heat pump, and variable refrigerant flow (VRF) products in the United States and Canada.

Joint Venture Details

Samsung will hold a 50.1% ownership stake in the joint venture, while Lennox will own the remaining 49.9%. The collaboration aims to leverage Samsung's 40 years of innovative HVAC technology and Lennox's strong market position as a leading North American HVAC original equipment manufacturer (OEM) and direct distribution leader.

Market Synergy

The joint venture will combine ducted and ductless AC and heat pump systems, enhancing the synergies for customers by offering a comprehensive range of HVAC solutions. Lennox will sell "Lennox powered by Samsung" branded products through its stores and direct-to-dealer network, while continuing to supply Samsung-branded products to existing Samsung HVAC distributors and representatives in the United States and Canada.

Leadership Statements

"This joint venture represents the union of two outstanding brands with strong market positions and deep customer trust. It is an honor to work with Samsung as we invest in solutions to meet our customers' HVAC needs," said Lennox Chief Executive Officer, Alok Maskara. "I am excited about the future of this joint venture as part of our growth strategy."

"It is a great pleasure to take the first step in creating a long-term HVAC industry-leading partnership with Lennox," stated KS Choi, President and Chief Executive Officer of Samsung Electronics America. "Our collaboration, focused on advanced HVAC product offerings and customer networks in the growing ductless segment, will bring new solutions to the market. We look forward to launching innovative technologies together in the future."

Operational Timeline

The joint venture is expected to become operational in the second half of 2024, pending customary closing conditions. Following this, Lennox will purchase VRF and low-GWP mini-split and multi-split products from the joint venture. Samsung and Lennox will appoint the Chief Executive Officer and Chief Financial Officer for the joint venture, with business headquarters and operations based in Roanoke, Texas.
Share

Related news

Mojave Secures Patent for Liquid Desiccant Regenerator Design
New USPTO patent supports ArctiDry system’s energy-efficient performance Mojave Energy Systems has received a United States patent for its proprietary liquid desiccant regenerator design...
25 Apr 2025
Lennox Expands DFW Distribution and Training Centers to Boost Service
Investments include a new Regional Distribution Center and enhanced training facilities. Lennox has announced major investments in its distribution and customer training infrastructure a...
21 Apr 2025
SMACool Project Develops Elastocaloric Cooling System for Homes
A European consortium is developing a high-efficiency air conditioning system using shape memory alloys as solid-state refrigerants. The EU-funded SMACool project is advancing elasto
05 May 2025
Rheem Highlights Product Emissions Cuts and Training Milestone in 2...
Rheem has published its 2024 Sustainability Progress Report, marking significant advancements in emissions reduction, zero waste initiatives, and workforce education. Released on Earth Day, the...
28 Apr 2025
Mitsubishi Electric Trane HVAC US honors top 2024 distributors at D...
Mitsubishi Electric Trane HVAC US LLC (METUS) recognized its top-performing distributors during the 2025 Diamond Leadership Conference, held April 14–17 at the St. Regis Hotel in Bermuda. Honor...
22 May 2025
AREA and WRD announce finalists for 2025 Women in Cooling Video Com...
AREA and World Refrigeration Day (WRD) have announced the finalists for the third edition of the Women in Cooling Video Competition. The initiative highlights the expertise of women in the refr...
23 May 2025