September 25, 2023

Willkie is representing Syntagma Capital in exclusive negotiations with Lennox International to acquire its European commercial HVAC and refrigeration businesses.

On September 25, Syntagma announced that it entered into exclusive negotiations with Lennox, a leader in energy-efficient climate-control solutions, to carve out the two European business divisions. The HVAC division designs and manufactures commercial heating, air conditioning and air handling equipment. The commercial refrigeration division designs and manufactures commercial evaporators, condensing units, condensers and dry coolers. 

The Lennox businesses are headquartered in Lyon, France, and serve customers in over 40 countries. Syntagma, a privately held investment company based in Brussels, plans to continue to grow the businesses organically and through targeted M&A investments.

Willkie previously advised Syntagma in numerous transactions, including its recent acquisition of Erasteel, the high-speed steels and recycling division of Eramet S.A.

The Willkie team is led by partner Hugo Nocerino and includes partner Faustine Viala and associates Axel Rogeon, Eden Attias, Sophie Mitouard and Hana Rousse.