Platinum Equity to sell Heat Controller to Lennox

Platinum Equity has agreed to sell Heat Controller, a Jackson, Michigan-based supplier of HVAC equipment, to Lennox, completing the firm's exit from its 2024 investment in Motors & Armatures.

The company distributes its Comfort-Aire and Century branded products to customers across North America.

Platinum Equity carved out Heat Controller from MARS, an HVAC/R distributor, and previously sold the MARS parts division to CSW Industrials for $650 million in 2025.

"We appreciate Platinum Equity's support and partnership during an important chapter in our company's evolution," said Philip Windham, Chief Executive Officer of Heat Controller.

The transaction is expected to close later this year, subject to customary conditions and regulatory approvals, with O'Melveny & Myers LLP serving as legal advisor to Platinum Equity.