Watsco and Carrier Acquire Temperature Equipment Corporation

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.