Havells International to Acquire Full Ownership of US HVAC Joint Venture
- brg_news_room
- Oct 8
- 1 min read
INDIA: Havells International, a wholly-owned subsidiary of Havells India Limited, has announced plans to acquire the remaining 20% stake in Havells HVAC LLC from its joint venture partner, Salesmark Ventures LLC. This move will make Havells HVAC LLC a wholly-owned subsidiary of Havells International, strengthening the company’s footprint in the US HVAC market.
Havells International had previously formed the joint venture with Salesmark Ventures, a Florida-based company, with an 80:20 ownership structure. The venture, Havells HVAC LLC, was set up to market and sell portable air conditioning units and related accessories under brands owned by Havells India Limited in the United States.
The Executive Committee of Havells India Limited’s Board of Directors has acknowledged the decision, noting that the acquisition will consolidate full ownership under Havells International, enhancing control and strategic alignment in the US market.
Source: Havells
