Johnstone Supply Acquires Dunphey-Smith Supply

Lennox International Acquires NSI Industries' HVAC Division (Duro Dyne & Supco)

October 19, 2025

Manufacturing

Lennox International completed the acquisition of NSI Industries' HVAC division, including the Duro Dyne and Supco brands, expanding its HVAC parts and supplies portfolio. The divestiture—announced by Sentinel Capital Partners—enables NSI to refocus on its core electrical products business while strengthening Lennox’s lifecycle offerings for residential and commercial customers.

Southern Home Services Acquires Dunn's HVAC, Plumbing & 26 Electrical

February 24, 2026

Industrial Services

Southern Home Services, a home-services consolidator, announced it acquired Dunn's HVAC, Plumbing & 26 Electrical. The deal strengthens Southern's Alabama presence by adding a highly rated multi-trade operator headquartered in Anniston with operations in Pelham near Birmingham.

NSI Industries Acquires Duro Dyne Corp.

November 19, 2021

Building Products

NSI Industries, a Huntsville-based electrical products distributor, has acquired Duro Dyne Corp., a Bay Shore, New York sheet metal manufacturer serving the HVAC industry. The acquisition adds the HVAC market and sheet metal accessory manufacturing capabilities to NSI's distribution platform; terms were not disclosed.

Smiths Group plc Acquires Duc-Pac Corporation

March 25, 2025

HVAC & Mechanical

Smiths Group plc has acquired Duc-Pac Corporation, a U.S.-based metal duct manufacturer for HVAC applications, for $40.5 million. The business will be integrated into the construction segment of Smiths' Flex-Tek unit to expand Smiths' geographic coverage in the northeast United States and enable cross-selling opportunities.

Gryphon Investors Acquires Ed's Supply Company

April 25, 2022

Building Products

Gryphon Investors has acquired Ed's Supply Company, a Nashville-based wholesale HVAC/R distributor with 19 locations across Arkansas, Georgia, Kentucky and Tennessee, and will operate it as an independent division of its Heritage Distribution Holdings platform. Financial terms were not disclosed; the existing management team will remain in place with former president Steve Byram becoming an advisor and Tucker Byram named President. The deal expands Heritage Distribution Holdings' multi-region HVAC/R footprint in the Southeast.

Investcorp Acquires Majority Stake in Shearer Supply

April 11, 2023

HVAC & Mechanical

Investcorp announced a majority investment in Shearer Supply, a leading independent HVAC equipment distributor headquartered in Dallas, Texas. Shearer—founded in 1983 and operating 22 branches across the Southern U.S. serving over 5,500 contractor customers—will continue to have the Shearer family, management team and PNC Riverarch Capital as shareholders; financial terms were not disclosed. Investcorp intends to support organic growth and further geographic expansion.