Building Products
Case studies in building products.
A. O. Smith: What Should It Do With Its China Platform?
For decades, A. O. Smith had built a substantial water-heater and water-treatment business in China. The company reported roughly 8,700 points of sale, about 4,200 employees in China, and nearly 30 years of operating presence. Yet demand had weakened. Read case
AAON — Governing Growth Under a New Enterprise Identity
On 21 August 2026, AAON, Inc. announced that it would operate under the trade name The Aaon Group. The company described the identity as a clearer layer above its two differentiated brands, AAON and BASX, and a framework for governance, capital allocation, shared capabilities and future portfolio growth. Read case
Allegion: what should the incoming International president prioritize?
On September 8, 2026, Allegion disclosed a leadership transition for its International segment. Serge Zappone, then vice president and general manager for Allegion APAC, would become President, International and Senior Vice President on January 1, 2027. He would report to Allegion President and CEO John Stone. Timothy Eckersley planned to retire at year-end. Read case
Builders FirstSource: Buying Growth in a Housing Downturn
On 30 April 2026, Builders FirstSource (BLDR) released first-quarter results and disclosed that its board had announced a total authorization of up to $500 million for share repurchases, including approximately $200 million remaining from the April 2025 authorization. It did not require the company to buy any particular number of shares and could be changed or suspended. Read case
Carrier Global — Debt, Investment or Repurchases?
Carrier Global had spent the previous year changing what kind of company it wanted to be. It acquired Viessmann Climate Solutions (VCS), a European heating and energy business, and agreed to sell three businesses in fire protection, security and commercial refrigeration. A fourth fire business remained for sale. Read case
Johnson Controls: Governing the Next Stage of AI Building Controls
Johnson Controls International plc (JCI) had made two public moves in 2026: it acquired Nantum AI, then launched new AI capabilities in OpenBlue, its digital building ecosystem. Energy & Comfort Intelligence (ECI), powered by Nantum, was intended to optimize air circulation across air-handling units, fans and related systems. Read case
Lennox International — Confidence in the 2030 Targets
You are an outside strategy adviser preparing a confidence assessment for an investment committee. Lennox International has set 2030 targets of $6.5–$7.5 billion in revenue, a 22–23% segment-profit margin, and free-cash-flow conversion above 90% of net income. Read case
Masco Corporation: Where Should Enterprise Commercial Capability Go?
Masco has created an enterprise Chief Marketing Officer role spanning marketing, commercial excellence, digital acceleration, and customer capabilities. Read case
Trane Technologies — Scaling Autonomous Building Controls
On 18 December 2024, Trane Technologies announced an agreement to acquire Montreal-based BrainBox AI. Trane expected the transaction to close in early 2025. It did not disclose the consideration and described the transaction as not material to Trane. The acquisition decision had been made; the operating model for the combined capability had not been set out publicly. Read case
Zurn Elkay: where should the next dollar go?
Zurn Elkay Water Solutions Corporation has just reported its first full fiscal year after combining Zurn and Elkay. Read case