Hogan Lovells advises Lennox on sale of its European process cooling business
Led by Munich partner Peter Huber, global law firm Hogan Lovells has advised Lennox International Inc. on the sale of its Hyfra Process Cooling business to the Glen Dimplex Group.
Headquartered in Dallas, TX, Lennox is a global provider of climate control solutions for the heating, air conditioning and refrigeration markets. With divesting the European business, the company will further focus on the North American market where it is best positioned to achieve revenue growth and profit margin targets.
Headquartered in Krunkel, Germany, Hyfra Industriekühlanlagen GmbH supplies cooling systems and air heat exchangers for a range of cooling applications including those in the laser industry, machine tool engineering and filtration industries. The company was founded in 1981 and acquired by Lennox in 1997.
The closing of the transaction is subject to obtaining required consents and customary closing conditions. The transaction is expected to be completed in the fourth quarter of 2023.
Hogan Lovells Team for Lennox International Inc.
Peter Huber (Partner), Tobias Flasbarth (Counsel), Andreas Thun (Counsel), Artem Vezdenetskiy (Research Assistant) (all Corporate/ M&A, Munich);
Dr Matthias Jaletzke (Partner), Alicia Bäuerle (Associate) (both Private Equity, Frankfurt);
Dr Ingmar Dörr (Partner, Tax, Munich);
Dr Anna-Katharina Friese-Okoro (Partner), Dr Henrik Hanßen (Counsel), Miriam Werner (Associate) (all Intellectual Property, Hamburg/ Munich);
Dr Christoph Wünschmann (Partner), Dr Dennis Cukurov (Associate) (both Antitrust, Munich);
Falk Schöning (Partner), Stefan Kirwitzke (Senior Associate) (both Global Regulatory, Brussels);
Dr Tim Joppich (Partner, Employment, Dusseldorf);
Dr Tim Hinrichsen (Senior Associate, Real Estate, Munich);
Marion Guertault (Partner, Employment, Paris).