Watsco To Acquire Peirce-Phelps, Inc. - $206 Million Philadelphia-Based HVAC Distributor
Watsco, Inc. (WSO)
Last watsco, inc. earnings: 4/23 07:30 am
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Source: GlobeNewswire
MIAMI, July 18, 2019 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced today that it has signed an agreement to acquire the HVAC business of Peirce-Phelps, Inc. Closing of the transaction is subject to customary conditions and is expected to occur within the next 30 days. Peirce-Phelps will operate as a separate business of Carrier Enterprise, LLC, a joint venture between Watsco and Carrier Corporation. Watsco owns 80% of Carrier Enterprise and Carrier owns 20%. Peirce-Phelps was founded in Philadelphia, Pennsylvania in 1926 and is one of the largest HVAC distributors in North America with current annual sales of approximately $206 million. It currently serves over 9,000 customers from 19 locations in Pennsylvania, New Jersey and Delaware. Its product offering includes residential and commercial HVAC equipment made by Carrier as well as parts, supplies and accessories sourced from approximately 350 vendors. More information about Peirce-Phelps can be found at www.peirce.com.
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Sec Filings
- 11/15/24 - Form 8-K
- 11/8/24 - Form SC
- 11/4/24 - Form 424B5
- WSO's page on the SEC website