Lennox International : JV with Ariston Presentation (a262ef)
LII
Published on 05/27/2025 at 16:28
INTEGRITY | RESPECT | EXCELLENCE
LENNOX JV WITH ARISTON
MAY 2025
GROWING OUR PRODUCT PORTFOLIO
Air Purification /
Filtration
Humidity Control
Gas Furnace / Air Handler
Complete home comfort with products designed to make the perfect home environment with award-winning systems that are exceptionally quiet and energy efficient.
Ventilation
Heat pump / Air Conditioner
Thermostat /
Zoning
INTRODUCING
Water Heaters
Mini-splits
JV introduced May 2024
Integrity | Respect | Excellence
WATER HEATER EXPANSION RATIONALE
UNLOCKS ~$10B
TOTAL ADDRESSABLE MARKET
PROVIDES
DISTRIBUTION LEVERAGE
TECH & CHANNEL CONVERGENCE
~9M ~$10B
Increasing energy efficiency requirements and electrification increasing technology overlap due to
Water heaters sold in the US annually
US wholesale water heater market size
heat pump penetration
Convergence in HVAC technicians and plumber skillset convergence in HVAC and plumbing dealers
and distributors
4.3% 8%
US water heater market CAGR '19-'24
'28-'33 CAGR
driven by heat pump growth
Note: Market size and growth figures represent US residential storage water heaters Source: HARDI State of the Channel 2025; Internal estimates
JVS PROVIDE GROWTH OPPORTUNITIES TO EXPAND PRODUCT CATEGORIES
PRODUCT CATEGORY
Mini Splits
% OF DEALERS WHO SELL PARTNER
~75%
Announced May 28, 2024
Water Heaters
~50%
Announcing JV Partnership
Source: Lennox Residential Brand Health Survey 2023 (n=736); 2025 ACHR System Options and Upgrades (n=2192)
LENNOX JV WITH ARISTON
Leading NAM HVAC OEM with reputation for innovation, quality, and reliability
Top 3 HVACR distributor with over 300 locations in North America
Omni channel footprint with over 10k direct dealers and ~1k independent distributors
World-class technology integration to deliver innovative and leading products
Establishes strategic partner for water heating technology & manufacturing beginning in early 2026
Active globally in sustainable climate and
water comfort solutions
Tank-type water heater leader, top 3 in over 40 counties, and top 5 in the US
29 manufacturing locations globally under-pinned by 29 R&D centers
North America tank-type market served
from Saltillo, MX
Establishes large distribution partner to
accelerate US & CAN
Strengthening customer relationships through optimal product management, shared market insights, and effective technical assistance to promote US & Canada water heater sector growth
Disclaimer
Lennox International Inc. published this content on May 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 27, 2025 at 20:27 UTC.