Public Company Industrial Services

Watsco

Coconut Grove, Florida, United States

Watsco is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC/R distribution industry. It serves more than 125,000 contractor-customers through a large multi-location network across the Americas.

Focus Areas
HVAC/R distribution, Heating and air conditioning equipment distribution, Refrigeration equipment distribution
Website
watsco.com

Tracked deals

5

5 tracked deals across 2021-2026.

Recent pace

2

2 tracked deals announced in the last 12 months.

Deal mix

Buyout

5 buyout

Watsco Acquisition Volume by Year

Last 3 years

Acquisition volume by year Annual acquisition counts for the last 3 years for Watsco. 2 2021 1 2023 ~3 est. 2 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Watsco
    Target
    The Granite Group
    Seller
    Condron family (implied)
    Industry
    Transportation
    Type
    Buyout

    Watsco has agreed to acquire The Granite Group, a diversified plumbing and HVAC distributor with approximately $500 million in annual sales and 82 locations across the U.S. Northeast. The Granite Group will continue operating as an independent business under its existing management team while gaining access to Watsco’s scale, supplier relationships, capital, and technology platforms.

  • Buyer
    Watsco, Inc.
    Target
    Jackson Supply Company
    Location
    United States
    Type
    Buyout

    Watsco, Inc. signed a definitive agreement to acquire Jackson Supply Company, a Sunbelt HVAC distributor with $230 million in 2025 sales and 25 locations serving about 5,000 customers. The transaction closed on June 2, 2026, expanding Watsco’s footprint across Texas, Louisiana, Tennessee, Alabama, Mississippi, Oklahoma, and Arizona.

  • Buyer
    Watsco, Inc.
    Target
    Gateway Supply Company, Inc.
    Type
    Buyout

    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.

  • Buyer
    Watsco, Inc.
    Target
    Acme Refrigeration
    Type
    Buyout

    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.

  • Buyer
    Watsco, Inc., Carrier Global Corporation
    Target
    Temperature Equipment Corporation
    Type
    Buyout

    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.

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