Watsco To Buy Peirce-Phelps - Quick Facts

(RTTNews) - Watsco, Inc. (WSO) has agreed to acquire the HVAC business of Peirce-Phelps, Inc. Peirce-Phelps is one of the largest HVAC distributors in North America. Annual sales of Peirce-Phelps were approximately $206 million. It has over 9,000 customers.

Albert Nahmad, Watsco's CEO said: "Peirce-Phelps has one of the most long-standing family legacies in our industry as evidenced by the four third-generation Peirce brothers who operate the business. They will continue to lead the company moving forward."

Peirce-Phelps will operate as a separate business of Carrier Enterprise, LLC, a joint venture between Watsco and Carrier Corp.