Lennox (LII) Acquires AES

Lennox (NYSE: LII), a leader in energy-efficient climate-control solutions, today announced it has completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market.

Across North America, AES provides installations services, adapter curbs, and reclaim services. AES will become part of the Lennox Commercial Business Segment and enable the delivery of "front-to-back" life-cycle integrated services to AES and Lennox customers.

"AES represents a strong strategic and cultural fit for the Lennox Commercial segment and is consistent with our growth strategy," Lennox EVP and President of the Commercial Heating and Cooling Business Joe Nassab stated. "By adding AES's services to our already strong portfolio, we have positioned our business to grow through providing our customers with more capabilities. In addition, we are thrilled that AES and Lennox share many of the same core values and we look forward to growing together."

AES President Jason Benton will join the Lennox Commercial business segment in a leadership role and will continue to lead the AES business and team of approximately 280 associates.

"This is an excellent fit for us," said Jason Benton, President of AES. "Our customers trust us to respond quickly and personally. We are excited for the opportunity to reach new customers and expand with Lennox resources."

Terms of the acquisition were not disclosed.

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