LENNOX INTERNATIONAL INC acquires Duro Dyne and Supco (NSI Industries HVAC Division)

LENNOX INTERNATIONAL INC acquired Duro Dyne and Supco (NSI Industries HVAC Division) for approximately $545 million (cash consideration paid, per FY2025 10-K), a transaction completed in October 2025, structured as all cash.

Duro Dyne and Supco (NSI Industries HVAC Division) operates in Building Climate Solutions (Duro Dyne) and Home Comfort Solutions (Supco), is based in United States (NSI Industries HVAC division), had revenue of about approximately $225 million in annual revenue (per management commentary on the Q3 2025 earnings call). Lennox acquired 100% of the outstanding common stock of Duro Dyne Buyer, Inc. and Sealed Unit Parts Buyer, Inc. — the HVAC division of NSI Industries, comprising the Duro Dyne, Dyna-Tite, DuroZone, Supco and LINEBACKER brands. The businesses manufacture and sell a portfolio of HVAC parts and supplies that complement Lennox's residential and commercial offerings, such as air distribution accessories, switches and controls, and other engineered components and accessories with HVACR applications. Duro Dyne is reported in the Business Climate Solutions segment; Supco in the Home Comfort Solutions segment.

Lennox framed the deal as expanding its parts and supplies portfolio across the full HVAC value chain — from equipment and installation to service and preventive maintenance — in response to customer demand for parts and accessories attachment.

Parts and supplies carry higher margins and recurring attachment to Lennox's installed base, and the deal added recognized brands (Duro Dyne, Supco, Dyna-Tite, DuroZone) across both operating segments. Accelerates attachment of parts and accessories across both Home Comfort Solutions and Building Climate Solutions; management indicated the deal would be accretive in 2026. Duro Dyne reported within Building Climate Solutions; Supco within Home Comfort Solutions Alok Maskara, Q3 2025 earnings call: "the recent acquisition of Durodyne and Supco will help accelerate attachment of parts and accessories across both HCS and BCS segments. The acquired business has annual revenues of approximately $225 million and a solid growth trajectory with strong margins. This acquisition meets our discipline criteria and will be accretive in 2026."