Lennox (NYSE: LII) has signed a definitive agreement to acquire Heat Controller, a leading HVAC equipment supplier. known for its Comfort-Aire and Century brands. The acquisition strengthens Lennox's ability to serve small and mid-size HVAC distributors by expanding access to differentiated equipment offerings while creating new opportunities to broaden Lennox's share in the North American HVAC market. Financial terms of the transaction have not been disclosed.
Based in Michigan, Heat Controller has built a strong reputation as an HVAC equipment supplier serving distributors across North America through its established Comfort-Aire and Century brands. The company differentiates through a broad product portfolio, strong product availability, well-recognized brand offering, and exceptional customer service. These capabilities are highly valued by distributor partners across the small and mid-size segments of the market. Heat Controller was acquired by HVAC supplier Motors & Armatures (MARS) in 2013 and has continued to operate as MARS's equipment arm through subsequent ownership changes.
Lennox, a leader in energy-efficient building and home comfort solutions, is expanding its product breadth and deepening its go-to-market relationships across the North American distribution channel. Heat Controller's flexibility, availability, and service-first approach are highly complementary to Lennox's existing platform, positioning the combined business to serve a broader set of distributor partners while creating new opportunities to grow share across the fragmented HVAC market. Speaking about the impact of the acquisition, Alok Maskara, Chief Executive Officer of Lennox, stated:
"Heat Controller and its Comfort-Aire and Century brands strengthen how we serve our distributor partners with flexibility and exceptional customer service. I am excited to welcome this team to Lennox. Together, we see meaningful opportunities to support our distributor partners."
This transaction marks another major step in Lennox's ongoing strategic growth plan and comes less than a year after the company paid $550 million to acquire the HVAC division of NSI Industries, home to parts and accessories brands Duro Dyne and Supco, as part of a broader push to broaden its parts and supplies lineup. Reflecting on the new chapter, Philip Windham, Chief Executive Officer of Heat Controller, remarked:
"We are excited to join Lennox and begin the next chapter of Heat Controller's growth. Lennox's scale, operational strength, and focus on customer experience position us to expand our offering and continue delivering the flexibility, availability, and service our distributor partners depend on."
The transaction also marks the final exit from MARS for private equity firm Platinum Equity, which acquired a majority stake in MARS in 2024 and sold the company's parts division to RectorSeal-parent CSW Industrials for $650 million in late 2025. As MARS's remaining equipment arm, the sale of Heat Controller completes Platinum Equity's exit from the broader MARS platform.
Headquartered in Dallas, Lennox is committed to creating healthier and more comfortable environments. Serving residential and commercial customers, the company delivers innovative heating, cooling, indoor air quality, refrigeration, and water heating systems, and provides connected solutions that support the full lifecycle of customer needs through trusted products, parts, and services.
The acquisition is expected to close later this year, subject to customary closing conditions and regulatory approvals.
The acquisition of Heat Controller underscores Lennox's commitment to strategic growth and its efforts to strengthen its position as a leading provider of energy-efficient HVAC equipment, parts, and supplies to distributor partners across North America.
