Lennox and Samsung announced that they have signed an agreement to form a joint venture, Samsung Lennox HVAC North America, to sell ductless AC and heat pump products in the US and Canada. Samsung will own 50.1% of the venture, with Lennox holding 49.9%. The partnership combines Samsung's 40 years of innovative HVAC technology with Lennox's leadership in North American HVAC manufacturing and distribution.

This venture aims to offer enhanced heating and cooling solutions by distributing Samsung ductless AC and heat pump products, including 'Lennox powered by Samsung'-branded items through Lennox stores and direct-to-dealer networks. Pending customary closing conditions, the joint venture will begin operations in the second half of 2024. Lennox will then purchase VRF, and low-GWP mini-split and multi-split products from the venture.

Samsung and Lennox will appoint the CEO and CFO, and the headquarters will be located in Roanoke, Texas. and installers.