Oct 16 (Reuters) – Private equity firm Sentinel Capital Partners said on Thursday it sold the HVAC division of NSI Industries to Lennox International for about $550 million in cash. NSI Industries, a supplier of branded electrical components across the U.S. and Canada, will streamline operations to focus on its core electrical business, Sentinel said. The HVAC sector has seen a wave of strategic deals, including Bosch's $8 billion acquisition of Johnson Controls residential and light commercial HVAC business in 2024, as firms refocus on energy-efficient technologies and core operations. NSI will continue making components such as insulated connectors and fittings under brands including Bridgeport, Polaris and Tork. Sentinel Capital acquired NSI in November 2024 at an undisclosed sum. (Reporting by Apratim Sarkar; Editing by Vijay Kishore)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
