Watsco Increases Joint Venture Ownership - Modern Distribution Management

Log In

Watsco Increases Joint Venture Ownership

Watsco now owns 80 percent of Carrier Enterprise LLC.
Author
Date

Watsco Inc. (NYSE: WSO), Miami, FL, has acquired an additional 10 percent ownership interest in Carrier Enterprise LLC, a joint venture with Carrier Corporation, a part of UTC Building & Industrial Systems, a unit of United Technologies Corp.

The transaction raises Watsco’s ownership stake to 80 percent. Consideration for the purchase was approximately $90 million cash.

"This marks the five year anniversary of the formation of Carrier Enterprise, which has proven to be a transformational event for our company," said Albert Nahmad, Watsco's CEO. "This collaboration between Watsco and Carrier has produced terrific results and we are happy to invest further in what has been an unqualified success for both of our companies.”

Carrier Enterprise was launched with Carrier in 2009. It sells a variety of products manufactured by Carrier, along with approximately 25,000 SKUs of other products from 121 locations in 19 states, Puerto Rico and on an export basis to the Caribbean and portions of Latin America. Successive joint ventures were formed by Watsco and Carrier in the Northeast United States, Mexico and Canada.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.