Lennox To Sell Hyfra Process Cooling Business

With its headquarters in Krunkel, Germany, Hyfra provides cooling systems and air heat exchangers for a variety of cooling applications, such as those in the filtration, laser, and machine tool engineering sectors.The business was established in 1981, and Lennox purchased it in 1997. "Divesting this European business will enable us to continue our focused strategy on North America, where we are best positioned to achieve our revenue growth and profit margin targets," said Lennox CEO Alok Maskara.

The acquisition, according to Glen Dimplex CEO Fergal Leamy, is "an important milestone" for his company since it would allow it to better serve customers and grow its precision cooling operations globally as it moves towards a more sustainable future.

The deal is anticipated to close in the final quarter of 2023.

Source: Glen Dimplex Newsroom