Lennox sells Service Experts business

Dallas-based Lennox International Inc. sold its Service Experts business to a majority-owned entity of American Capital.

The all-cash deal closed on March 22 and includes a two-year equipment supply agreement. Terms of the sale and supply agreement were not disclosed.

Lennox International is a global leader in the heating, air conditioning, and refrigeration markets.

Service Experts operates company-owned heating and cooling service centers providing sales, installation, maintenance and repair service functions to the residential and light commercial markets, according to the company website.