Lennox To Sell Its Germany-based Hyfra Process Cooling Business Unit To The Glen Dimplex Group

(RTTNews) - Climate-control solutions firm Lennox International, Inc. (LII) announced Friday it has entered into a definitive agreement to sell its Krunkel, Germany-based Hyfra Process Cooling business unit to the Glen Dimplex Group.

The company said the divestiture of its European business will enable it to continue its focused strategy on North America where it is best positioned to achieve its revenue growth and profit margin targets.

The closing of the transaction is subject to obtaining required consents and customary closing conditions. The transaction is expected to be completed in the fourth quarter of 2023.