Samsung and Lennox have announced a joint venture that will be responsible for distributing Samsung ductless products in the United States and Canada, as well as “Lennox powered by Samsung” branded products. The joint venture, called Samsung Lennox HVAC North America, will leverage Lennox’s distribution channels to strengthen Samsung’s position in the North American HVAC market.
Through this partnership, Samsung plans to utilize its expertise in artificial intelligence, software, smartphones, and semiconductors to provide smart home services with Samsung SmartThings for a more seamless and smarter lifestyle experience. The joint venture aims to enhance its residential and homebuilder business in North America through the introduction of unique products and the expansion of distribution channels.
Samsung anticipates that the joint venture will help strengthen its position in the North American HVAC market by leveraging Lennox’s distribution channels. On the other hand, Lennox is expected to expand its business by offering innovative ductless systems from Samsung. The existing Samsung HVAC distributors and representatives in the United States and Canada will continue to be supplied with Samsung branded products by the joint venture.
Alok Maskara, CEO of Lennox expressed excitement about the joint venture saying it was a collaboration between two strong brands to meet HVAC customer needs. The new joint venture is expected to become operational in the second half of 2024 pending customary closing conditions, with a business headquarters and operations based in Roanoke, Texas. The CEO and CFO of the joint venture will be appointed by Samsung and Lennox.
