PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2023/62 - Syntagma / Lennox
Acquired
Assets Lennox International Inc.
Description
Correspond to the HVAC business units, for heating, ventilation and air conditioning devices, and REFCOM for commercial refrigeration. In Portugal, Lennox is only present through the HVAC business unit.
Acquiring
Syntagma Capital Management S.A.
Description
Advisory firm for venture capital funds (private equity), which invests in companies that can benefit from practical operational knowledge in order to accelerate their growth and improve their performance.
Sector
  • Trade and Services
Activity (NACE)
  • G4669 - Wholesale of other machinery and equipment
Applicable legislation
Notification thresholds
Type of merger
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

This notification concerns the acquisition of exclusive control of two business units of Lennox Internacional Inc. (“Lennox Assets”), by a Luxembourg fund advised by Syntagma Capital Management S.A. (“Syntagma”).
Timeline
2023-10-31
The AdC issued a non-opposition decision to the merger 62/2023 - Syntagma / Lennox.
2023-10-13
Syntagma notifies the acquisition of exclusive control over two Lennox business units.
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