Watsco, Inc. is the largest distributor of heating, air conditioning and refrigeration (HVAC/R) products with 417 locations in 34 states. Founded more than 50 years ago as a manufacturer of parts and components for HVAC/R equipment, Watsco entered the distribution segment in 1989 and has become the industry leader with sales of $1.7 billion in 2008. Watsco's 3,100 employees assist over 40,000 contractors that service, repair or replace HVAC/R systems across the US.
Over 100 million existing homes have central air conditioning and heating systems. Eventually, these systems wear out and require repair or replacement. Watsco's strategy provides the products, technical support and convenience that contractors require to satisfy the needs of homeowners and businesses that depend on the comfort and energy-efficiency provided by HVAC/R systems.
Watsco meets contractor's needs by supplying the products required for the four major industry segments:
*Central air conditioners, furnaces and related parts (45%)
*Air movement products, including ductwork and insulation (25%)
*Controls, including thermostats and air treatment systems (15%)
*Refrigeration products (15%)
Watsco's goal is to build a national network of locations that provide the finest service and product availability for HVAC contractors, assisting and supporting them as they serve homeowners and businesses.
In May 2009, Watsco announced its largest acquisition in company history, agreeing to acquire a 60% stake in Carrier Corporation's US Sunbelt, Latin America and Caribbean distribution network. The newly formed entity, Carrier Enterprise, LLC, has 110 locations in 20 states and distributes Carrier, Bryant and Payne branded products on an exclusive basis. Watsco's pro forma revenues in 2008, including Carrier Enterprise, LLC, exceed $3.0 billion.
Watsco is the professional growth-oriented channel partner for manufacturers such as: American Standard, Carrier Corporation, Emerson Climate Technologies, Goodman Manufacturing Company, Honeywell International, Manitowoc Company, Nordyne Corporation and Rheem Manufacturing Company.
