Under Lennon's leadership, Swagelok gradually became a Fortune 500 Privately Held Company, producing thousands of products, and holding over US$1 billion in assets and employing a staff of 3,000.
Lennon was an enthusiastic supporter of private business interests and an active member of the Republican Party.
He counted among his personal friends former President Ronald Reagan and former Ohio Governor George Voinovich (he helped both with their election campaigns).
He was a founder and chairman of The Ashbrook Center for Public Affairs at Ashland University, and president of Gilmour Academy in Gates Mills.
Following his death in 1998, The Fred A. Lennon Charitable Trust was created to honor him posthumously, and has continued to fund and assist schools and charities in the region.