Lennox and Samsung have announced the formation of a joint venture, Samsung Lennox HVAC North America, to market ductless air conditioning and heat pump systems across the U.S. and Canada. The venture will combine Lennox’s strong North American presence with Samsung’s extensive experience in HVAC technology. Samsung will hold a 50.1% stake, with Lennox owning the remaining 49.9%.
The partnership will focus on selling “Lennox powered by Samsung” branded products, catering to the growing demand for both ducted and ductless heating and cooling solutions. This strategic move is aimed at leveraging the synergies between the two companies to provide superior HVAC solutions to their customers.
Both companies expressed enthusiasm about the joint venture. Lennox CEO Alok Maskara and Samsung Electronics America CEO KS Choi highlighted the collaboration as a step towards blending their strengths in innovation and market reach. The operational base of the joint venture will be in Roanoke, Texas, with plans to be fully functional by the second half of 2024.
Lennox is recognized for its energy-efficient climate-control technologies and commitment to sustainability, while Samsung brings a global perspective with innovative technologies across various electronic sectors. Together, they aim to enhance their offerings in the HVAC sector, anticipating the introduction of new technologies and solutions in the near future.
