Lennox and Ariston Group Announce Joint Venture to Launch Water Heaters in North America
Lennox (NYSE: LII) and Ariston Group have formed a joint venture called Ariston Lennox Water Heating North America to launch residential water heaters in the United States and Canada. The partnership combines Lennox's distribution network and customer relationships with Ariston's water heating technology and manufacturing expertise. Ariston USA will own 50.1% of the venture, while Lennox will hold 49.9%.
Starting in 2026, water heater products under Lennox brands will be distributed through Lennox stores, direct-to-dealer network, and distributor channels. Ariston Group will continue serving existing customers under its brands through its USA subsidiary. The joint venture aims to strengthen both companies' market presence and drive innovation in North American residential water heating.
Lennox (NYSE: LII) e Ariston Group hanno costituito una joint venture denominata Ariston Lennox Water Heating North America per lanciare scaldabagni residenziali negli Stati Uniti e in Canada. La collaborazione unisce la rete di distribuzione e i rapporti con i clienti di Lennox con la tecnologia e l'esperienza produttiva di Ariston nel riscaldamento dell'acqua. Ariston USA deterrà il 50,1% della società, mentre Lennox possiederà il 49,9%.
A partire dal 2026, i prodotti per il riscaldamento dell'acqua sotto i marchi Lennox saranno distribuiti tramite i negozi Lennox, la rete diretta ai rivenditori e i canali distributivi. Ariston Group continuerà a servire i clienti esistenti con i propri marchi attraverso la sua filiale negli USA. La joint venture mira a rafforzare la presenza sul mercato di entrambe le aziende e a promuovere l'innovazione nel settore del riscaldamento dell'acqua residenziale in Nord America.
Lennox (NYSE: LII) y Ariston Group han formado una empresa conjunta llamada Ariston Lennox Water Heating North America para lanzar calentadores de agua residenciales en Estados Unidos y Canadá. La alianza combina la red de distribución y las relaciones con clientes de Lennox con la tecnología y experiencia manufacturera de Ariston en calefacción de agua. Ariston USA poseerá el 50,1% de la empresa, mientras que Lennox tendrá el 49,9%.
A partir de 2026, los productos de calentadores de agua bajo las marcas Lennox se distribuirán a través de las tiendas Lennox, la red directa a distribuidores y los canales de distribución. Ariston Group continuará atendiendo a sus clientes actuales bajo sus marcas a través de su filial en EE.UU. La empresa conjunta busca fortalecer la presencia de ambas compañías en el mercado y fomentar la innovación en el calentamiento residencial de agua en Norteamérica.
Lennox (NYSE: LII)와 Ariston Group이 Ariston Lennox Water Heating North America라는 합작 회사를 설립하여 미국과 캐나다에서 주거용 온수기를 출시합니다. 이 파트너십은 Lennox의 유통망과 고객 관계를 Ariston의 온수 기술 및 제조 전문성과 결합합니다. Ariston USA가 50.1%의 지분을 보유하며, Lennox가 49.9%를 보유합니다.
2026년부터 Lennox 브랜드의 온수기 제품이 Lennox 매장, 직판 딜러 네트워크 및 유통 채널을 통해 유통될 예정입니다. Ariston Group은 미국 자회사를 통해 기존 고객에게 자사 브랜드로 계속 서비스를 제공합니다. 이 합작 회사는 두 기업의 시장 입지를 강화하고 북미 주거용 온수기 분야의 혁신을 촉진하는 것을 목표로 합니다.
Lennox (NYSE : LII) et Ariston Group ont créé une coentreprise nommée Ariston Lennox Water Heating North America pour lancer des chauffe-eau résidentiels aux États-Unis et au Canada. Ce partenariat combine le réseau de distribution et les relations clients de Lennox avec la technologie et l'expertise de fabrication d'Ariston dans le chauffage de l'eau. Ariston USA détiendra 50,1% de la coentreprise, tandis que Lennox en possédera 49,9%.
À partir de 2026, les produits chauffe-eau sous les marques Lennox seront distribués via les magasins Lennox, le réseau direct aux revendeurs et les canaux de distribution. Ariston Group continuera de servir ses clients actuels sous ses marques via sa filiale américaine. La coentreprise vise à renforcer la présence des deux entreprises sur le marché et à stimuler l'innovation dans le chauffage résidentiel de l'eau en Amérique du Nord.
Lennox (NYSE: LII) und Ariston Group haben ein Joint Venture namens Ariston Lennox Water Heating North America gegründet, um Wohnwassererhitzer in den USA und Kanada auf den Markt zu bringen. Die Partnerschaft vereint das Vertriebsnetz und die Kundenbeziehungen von Lennox mit der Wassererwärmungstechnologie und Fertigungsexpertise von Ariston. Ariston USA wird 50,1% des Joint Ventures besitzen, während Lennox 49,9% hält.
Ab 2026 werden Warmwasserprodukte unter den Lennox-Marken über Lennox-Geschäfte, Direktvertrieb an Händler und Vertriebskanäle vertrieben. Die Ariston Group wird weiterhin ihre bestehenden Kunden unter ihren Marken über ihre US-Tochter bedienen. Das Joint Venture zielt darauf ab, die Marktpräsenz beider Unternehmen zu stärken und Innovationen im Bereich der Wohnwassererwärmung in Nordamerika voranzutreiben.
- Strategic expansion into the water heater market strengthens Lennox's product portfolio
- Access to Ariston's advanced water heating technology and manufacturing capabilities
- Leverages Lennox's existing distribution network and customer relationships
- Additional revenue stream through new product offerings starting 2026
- Minority ownership position (49.9%) gives Lennox less control over the venture
- Delayed market entry with products launching in 2026
- Potential integration challenges between two large international companies
Insights
Lennox's JV with Ariston expands product portfolio, leveraging complementary strengths to drive North American water heater market growth.
This joint venture represents a strategic diversification for Lennox beyond its core HVACR business into the substantial residential water heater market. By partnering with Ariston Group, Lennox gains immediate access to advanced water heating technology and established manufacturing capabilities without the significant capital investment required to develop these in-house.
The structure of the JV is noteworthy - while Ariston will hold a controlling 50.1% stake versus Lennox's 49.9%, Lennox products will be sold through multiple distribution channels: Lennox stores, direct-to-dealer networks, and distributor channels. This multi-channel approach maximizes market penetration while leveraging Lennox's established customer relationships.
The timing is particularly strategic as North America sees increasing demand for high-efficiency water heating solutions, especially heat-pump-based systems that Ariston specializes in. This positions Lennox to capture market share in the growing eco-friendly segment while complementing their existing HVACR offerings to provide comprehensive home comfort solutions.
For Ariston Group, already present in North America since 2016 through three acquisitions, this partnership accelerates their regional expansion by tapping into Lennox's extensive distribution network and brand recognition. The JV structure allows both companies to share risk while leveraging their respective strengths - Lennox's market presence and customer relationships paired with Ariston's technological expertise and manufacturing capabilities.
The partnership combines Lennox's strength in residential distribution and customer relationships with Ariston Group's advanced water heating technology and manufacturing footprint, to launch water heaters that will carry the Lennox brands.
This strategic partnership brings the trusted brands, distribution channels, and expansive customer network of Lennox with Ariston Group's advanced global and regional expertise in water heating technology, R&D, and manufacturing. Together, the two companies aim to strengthen their market presence and drive innovation across the North American residential water heater landscape.
"This joint venture aligns with our strategy to deliver accelerated growth by expanding our product offerings within the residential market, further strengthening our customer relationships," said Alok Maskara, Chief Executive Officer of Lennox. "We are excited to work alongside Ariston Group, a renowned global leader in water heating, including heat-pump-based high-efficiency water heating solutions. The new joint venture's offerings, when coupled with existing Lennox products and technology applications, will enable a perfect home comfort environment. Our partnership, grounded in shared principles and goals, provides additional value and growth opportunities to our dealers, distributors, and contractors."
The joint venture will support the growth of Lennox and Ariston Group water heater sales across their respective channels and customers in the
"Ariston Group entered the North American market in 2016, building its presence through three acquisitions, recognizing this region as a strategic priority for profitable growth," said Paolo Merloni, Executive Chairman of Ariston Group. "We are pleased to announce this new chapter with Lennox, an outstanding partner whose market leadership we respect deeply. This joint venture allows us to add to our existing commercial presence and brands an alliance with a strong partner. We are proud to be the technology provider behind high-efficiency solutions that will carry the Lennox brands."
The newly established joint venture will be called Ariston Lennox Water Heating North America and will be operational after customary closing conditions are met. Ariston
About Lennox
Lennox (NYSE: LII) is a leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our cooling, heating, indoor air quality, and refrigeration systems. Additional information is available at www.lennox.com. For media inquiries, contact PR@lennox.com.
About Ariston Group
Ariston Group (Bloomberg: ARIS IM) is a global leader in sustainable climate and water comfort, listed on Euronext Milan. In 2024 the group reported
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SOURCE Lennox International Inc.
FAQ
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