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Lennox completes purchase of Ducane's heating-cooling division.(Brief Article)
DALLAS, TX -- Lennox International Inc. has completed its acquisition of essentially all assets of the Air Conditioning and Heating Division of The Ducane Company.
Lennox had previously announced signing a letter of intent to acquire the division (The News, June 7, 1999). Consideration for the acquisition was $45.3 million. Annual 1998 revenues for the division were $45 million; forecasted revenues for 1999 are $60 million.
"We're excited about the acquisition of one of the most rapidly growing brands in the hvac industry today," ...
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