Watsco, Inc., Coconut Grove, FL, has agreed to buy ACR Group, Inc. for $6.75 a share in cash, a 42% premium to the 90-day average closing price. ACR is a $240 million distributor of air conditioning and heating products.
ACR, Houston, TX, operates from 54 locations serving over 12,000 air conditioning and heating contractors throughout Florida, Texas, California, Georgia, Tennessee, Arizona, Colorado, Louisiana, Nevada and New Mexico. ACR has 503 employees and distributes a full line of air conditioning and heating equipment and related parts and supplies of 20,000 SKUs.
ACR ranked #7 in Supply House Times magazine's 2007 list of the top 50 HVAC distributors in the U.S.
Watsco is an independent distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC industry, currently operating 385 locations serving over 40,000 customers in 32 states.