Lennox and Ariston Group have entered into a joint venture that will bring a competitive product portfolio of residential water heaters to homeowners in the United States and Canada.
The strategic partnership brings the trusted brands, distribution channels, and expansive customer network of Lennox with Ariston Group's advanced global and regional expertise in water heating technology, R&D, and manufacturing.
Together, the two companies aim to strengthen their market presence and drive innovation across the North American residential water heater landscape.
Ariston USA will own 50.1% of the joint venture, while Lennox will own the remaining 49.9%. Leadership of the joint venture will be appointed jointly by Ariston Group and Lennox.
Lennox CEO, Alok Maskara, said the joint venture aligns with its strategy to deliver accelerated growth by expanding its product offerings within the residential market, further strengthening customer relationships.
“We are excited to work alongside Ariston Group, a renowned global leader in water heating, including heat-pump-based high-efficiency water heating solutions,” he said.
“The new joint venture's offerings, when coupled with existing Lennox products and technology applications, will enable a perfect home comfort environment.
“Our partnership, grounded in shared principles and goals, provides additional value and growth opportunities to our dealers, distributors, and contractors."
The joint venture will support the growth of Lennox and Ariston Group water heater sales across their respective channels and customers in the US and Canada.
Beginning in 2026, water heater products carrying the Lennox brands will be sold through Lennox stores, the direct-to-dealer network, and the distributor channel.
Through its Ariston USA subsidiary, Ariston Group will continue selling to current customers under its brands.
Ariston Group executive chair, Paolo Merloni, said the company entered the North American market in 2016, building its presence through three acquisitions and recognising the region as a strategic priority for profitable growth.
“We are pleased to announce this new chapter with Lennox, an outstanding partner whose market leadership we respect deeply,” Merloni said.
“This joint venture allows us to add to our existing commercial presence and brands an alliance with a strong partner. We are proud to be the technology provider behind high-efficiency solutions that will carry the Lennox brands."
The newly established joint venture will be called Ariston Lennox Water Heating North America and will be operational after customary closing conditions are met.