Watsco and Carrier Acquire Temperature Equipment Corporation

Watsco Acquires Acme Refrigeration

May 11, 2021

Building Products

Watsco, Inc. completed the acquisition of Acme Refrigeration, a Baton Rouge-based distributor of HVAC and refrigeration products. Acme operates 18 locations across Louisiana and Mississippi and generated approximately $60 million in revenue in 2020; Watsco said the deal supports its buy-and-build strategy to expand its HVAC/R distribution footprint.

Carrier Global Corporation Acquires Toshiba Carrier Corporation Stake from Toshiba

July 31, 2022

Building Products

Carrier Global Corporation has completed the acquisition of substantially all of Toshiba Corporation's ownership stake in Toshiba Carrier Corporation (TCC) for approximately $900 million. TCC, a global provider of residential and light commercial HVAC solutions including VRF and heat pump products with roughly $2 billion in 2021 sales and about 6,600 employees, will join Carrier's newly created Global Comfort Solutions business unit headquartered in Tokyo.

Tech24 (HCI Equity Partners-backed) Acquires TEMCO, Inc.

July 25, 2022

HVAC & Mechanical

Tech24, a national provider of foodservice and commercial HVAC repair services backed by HCI Equity Partners, acquired TEMCO, Inc. on July 20, 2022. The add-on expands Tech24's footprint into the Southeastern U.S. (Jackson, Mississippi and the Gulf Coast), adding local talent and deeper exposure to foodservice and commercial HVAC customers.

Air Temp Acquires The Eugene Steinberg Company (TESCO)

September 1, 2023

HVAC & Mechanical

Anvil Capital portfolio company Air Temp has completed the acquisition of The Eugene Steinberg Company (TESCO), marking Air Temp’s fourth add‑on under the Anvil Capital platform. The deal adds plumbing design, installation and service capabilities to Air Temp’s commercial HVAC platform in the greater Hartford, Connecticut region and is intended to accelerate regional growth and expand service offerings.

Watsco Acquires Gateway Supply Company

September 6, 2023

Building Products

Watsco, Inc. completed the acquisition of Gateway Supply Company, a Columbia, South Carolina-based distributor of plumbing and HVAC products with approximately $180 million in annual sales and 16 locations across South Carolina and North Carolina. The transaction expands Watsco's footprint in core Sunbelt markets and brings Gateway into Watsco's technology and scale while Gateway's leadership (the Williams family) will continue to run the business.

The Arcticom Group Acquires Tomco Mechanical Corporation

July 8, 2022

HVAC & Mechanical

The Arcticom Group, a Walnut Creek, California-based HVACR platform backed by A&M Capital Partners, has acquired Tomco Mechanical Corporation, a Westbury, New York provider of commercial refrigeration and HVAC services. The acquisition expands Arcticom's footprint to the East Coast and strengthens its service offering to national and regional grocery and commercial customers, with Tomco's management (led by John Martinelli) remaining in leadership and retaining a meaningful ownership stake.