Lennox Signs Deal To Buy Heat Controller

(RTTNews) - U.S. heating and cooling equipment maker Lennox International Inc (LII) announced on Thursday that it has signed a definitive agreement to acquire HVAC equipment supplier Heat Controller, adding the Comfort-Aire and Century brands to its portfolio. The financial terms of the deal were not disclosed.

The deal will expand Lennox's offerings to small and mid-size HVAC distributors across North America, the Dallas-based company said.

Heat Controller serves distributors through its Comfort-Aire and Century brands. Lennox said the acquisition would broaden its share in the North American HVAC market.

The transaction is expected to close later this year.

On the NYSE, shares of Lennox closed Wednesday's trading 2.31 percent lower at $516.11