Lennox To Sell Some Service Experts Dealers
July 1, 2004
Lennox International recently announced a plan to sell off 47 of its Service Experts dealer centers to improve the performance of the Service Experts business. These units will be organized under a new entity and classified as a discontinued business. The remaining 130 will comprise the ongoing Service Experts. According to CEO Bob Schjerven, these units exist in markets that have higher margins and lower risk, and are less cyclical. The company expects to divest the 47 centers by the end of 2004.