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M&A Deal Summary

Watsco and UTC Climate Controls & Security Systems Acquire Carrier Enterprise Canada

On April 30, 2012, Watsco and UTC Climate Controls & Security Systems acquired distribution company Carrier Enterprise Canada

Acquisition Highlights
  • This is Watsco’s 7th and UTC Climate Controls & Security Systems’ 1st transaction in the Distribution sector.
  • This is Watsco’s 1st and UTC Climate Controls & Security Systems’ 1st transaction in Canada.
  • This is Watsco’s 1st and UTC Climate Controls & Security Systems’ 1st transaction in Ontario.

M&A Deal Summary
Date 2012-04-30
Target Carrier Enterprise Canada
Sector Distribution
Buyer(s) Watsco
UTC Climate Controls & Security Systems
Deal Type Joint Venture

Target

Carrier Enterprise Canada

Mississauga, Ontario, Canada
Carrier Enterprise Canada, L.P. distribution network operates 35 locations and serving 5,000 customers in all of the provinces and territories of Canada. Products sold include a broad offering of Carrier, Bryant and Payne-brand residential, light-commercial and applied-commercial systems, along with related parts and supplies.

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Buyer(S) 2

Buyer

Watsco

Miami, Florida, United States
Category Company
Founded 1945
Sector Distribution
Employees7,220
Revenue 7.6B USD (2024)
DESCRIPTION

Watsco is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies in the HVAC/R distribution industry, currently operating 569 locations in 38 U.S. states, Canada, Mexico, and Puerto Rico with additional market coverage on an export basis to Latin America and the Caribbean. Watsco was founded in 1945 and is based in Miami, Florida.

DEAL STATS #
Overall 7 of 12
Sector: Distribution M&A 7 of 12
Type: Joint Venture M&A Deals 2 of 2
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-31 Pameco

Norcross, Georgia, United States

Pameco Corp. is a distributor of heating, ventilation and air conditioning (HVAC) replacement parts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-03 Carrier Enterprise

Carrollton, Texas, United States

Carrier Enterprise 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.

Buy $90M
Buyer

UTC Climate Controls & Security Systems

Farmington, Connecticut, United States
Category Company
Sector Machinery
DESCRIPTION

UTC Building & Industrial Systems is a provider of building technologies. Its elevator, escalator, fire safety, security, building automation, heating, ventilation, air conditioning and refrigeration systems and services promote integrated, high performance buildings that are safer, smarter and sustainable. UTC Building & Industrial Systems is a unit of United Technologies Corp.

DEAL STATS #
Overall 1 of 2
Sector: Distribution M&A 1 of 1
Type: Joint Venture M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2012 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-18 Forney

Addison, Texas, United States

Forney Corp.,manufactures front-end combustion components serving the electric utilities, chemical processing, pulp/paper and cement industries. Forney has expanded its product line to include igniters, burners, burner management systems, flame detectors and duct burners.

Sell -
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