Mar 2019

DC Advisory Acts as Exclusive Financial Advisor to Lennox International on its sale of Kysor Warren to EPTA S.p.A.

DC Advisory, a leading investment banking firm, acted as exclusive financial advisor to Lennox International (NYSE:LII) on its sale of its Kysor Warren division, to EPTA S.p.A..

Kysor Warren, headquartered in Columbus, Georgia,  is a division of Lennox and a leading manufacturer of refrigeration systems and display cases in the United States and Mexico.

EPTA S.p.A., headquartered in Milan, Italy, is a leading designer, developer and manufacturer of commercial refrigeration systems.

“Divesting the Kysor Warren refrigerated display case business enables us to focus on our commercial refrigeration businesses where we have strong market positions in North America and Europe and that fit our growth profile,” said Lennox International chairman and CEO Todd Bluedorn.

Parke Adamson, general manager of Kysor Warren said: “The across-the-board skills of the Epta Group and its know-how in the development of natural refrigerant systems will dovetail with our long-established experience serving North American Retailers.”

This is the third divestiture that DC Advisory (and its predecessor firm) has completed for Lennox.

The $49 million cash deal closed on March 29, 2019.