Watsco Acquires Gateway Supply Company

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.

Watsco and Carrier Acquire Temperature Equipment Corporation

March 16, 2021

HVAC & Mechanical

Watsco, Inc., together with Carrier Global Corporation, signed an agreement to acquire Temperature Equipment Corporation (TEC) for Watsco to own 80% and Carrier 20%. TEC is a Chicago/Lansing, Illinois–based HVAC distributor with $291 million in 2020 sales, ~10,000 customers and 32 Midwest locations; the deal expands Watsco's footprint into the U.S. Midwest.

Heritage Distribution Holdings Acquires Coastal Supply Company

October 12, 2022

HVAC & Mechanical

Heritage Distribution Holdings, the Gryphon Investors-backed HVAC/R distribution platform, has acquired Coastal Supply Company Inc., a 40-year-old, family-owned HVAC/R distributor based in Knoxville, Tennessee with six branch locations. Coastal will operate under HDH’s Ed’s Supply division and remain led by General Manager David Kennedy as part of HDH’s continued geographic expansion in the Southeast.

Ferguson plc Acquires Yorkwest Plumbing, Grove Supply and Harway Appliances

January 9, 2024

Building Products

Ferguson plc has signed definitive agreements to acquire Yorkwest Plumbing Supply Inc. and Grove Supply, Inc., and closed the acquisition of Harway Appliances, with the three businesses having aggregate annualized revenues of approximately $220 million. The bolt-on deals expand Ferguson's plumbing, HVAC and showroom footprint across Canada and the U.S., and Harway closed on Jan. 8 while Yorkwest and Grove are expected to close within 90 days subject to customary conditions.

Garden City Equity Invests in Wathco

July 24, 2023

Construction

Garden City Equity has made an investment in Wathco, a national restaurant remodeling and conversion services provider. The partnership will support Wathco's capacity expansion and growth serving multisite QSR, casual dining and retail brands across the United States.

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.