Watsco Acquires 60% Controlling Interest in Carrier Enterprise Canada

Watsco agreed to purchase a 60% controlling interest in the newly formed Carrier Enterprise Canada joint venture for $168.9 million in cash. UTC Canada will retain a 40% noncontrolling interest.

“The Company has agreed to purchase a 60% controlling interest in the joint venture for cash consideration of $168.9 million payable on the closing date, which the Company intends to fund using cash on hand and proceeds from borrowings under its revolving credit agreement.”

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