Sentinel Capital sells NSI Industries' HVAC unit to Lennox for $550 million

Reuters

Oct 16

Oct 16 (Reuters) - Private equity firm Sentinel Capital Partners said on Thursday it sold the HVAC division of NSI Industries to Lennox International LII.N for about $550 million in cash.

NSI Industries, a supplier of branded electrical components across the U.S. and Canada, will streamline operations to focus on its core electrical business, Sentinel said.

The HVAC sector has seen a wave of strategic deals, including Bosch's $8 billion acquisition of Johnson Controls JCI.N residential and light commercial HVAC business in 2024, as firms refocus on energy-efficient technologies and core operations.

NSI will continue making components such as insulated connectors and fittings under brands including Bridgeport, Polaris and Tork.

Sentinel Capital acquired NSI in November 2024 at an undisclosed sum.

(Reporting by Apratim Sarkar; Editing by Vijay Kishore)

((Apratim.Sarkar@thomsonreuters.com;))

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