Who owns Samsung Lennox HVAC North America

Joint venture with Samsung ("Samsung JV", distributes Samsung ductless AC and heat pump products and "Lennox powered by Samsung" branded products in the U.S. and Canada) - Profile

Samsung Lennox HVAC North America is a joint venture formed under an agreement announced in May 2024 to sell ductless air conditioning and heat pump equipment in the United States and Canada. It distributes Samsung mini split, multi split and variable refrigerant flow systems, and also supplies equipment branded Lennox powered by Samsung that reaches installers through Lennox stores and the Lennox direct to dealer network. Samsung contributes the ductless and variable refrigerant flow product line and its manufacturing, while Lennox contributes its North American distribution reach and dealer relationships; Lennox in turn buys variable refrigerant flow units and low global warming potential mini split and multi split products from the venture. The business became operational in the second half of 2024 and trades under the Samsung Lennox name.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Lennox International Inc.. FY2025 10-K (filed 17 Feb 2026, period ended 31 Dec 2025), Item 1 Business: 'Samsung JV. We own a 49.9% interest in a joint venture with Samsung that distributes Samsung ductless AC and heat pump products in the U.S. and Canada as well as "Lennox powered by Samsung" branded products through Lennox Stores and direct-to-dealer network.' Reported in either the Home Comfort Solutions or Building Climate Solutions segment depending on product line. Note 11 (Joint Ventures and Other Investments) states Lennox participates in four joint ventures (three in the U.S., one in Mexico) exerting significant influence via respective ownership of 25%, 49.9%, 49.9% and 50%, accounted for under the equity method; the combined balance of all equity-method investments was $59.7 million at 31 Dec 2025 ($56.4 million at 31 Dec 2024), with no per-venture split disclosed anywhere in the 10-K or its Exhibit 21. Exhibit 21 (List of Subsidiaries) does not name a Samsung-JV legal entity at all, unlike the Mexico and compressor ventures below, so no separate ownership-percentage confirmation exists there; the 49.9% figure used here is the one stated in Item 1 prose. Because the $59.7 million balance covers all four ventures with no disclosed split, this row is not assigned any share count or dollar value, per the rule against assigning a combined equity-method balance to one investee. source