Watsco and Carrier Form Canadian HVAC Distribution Joint Venture

Watsco, Inc. and UTC Canada Corporation (an affiliate of Carrier) agreed to form a joint venture, Carrier Enterprise Canada, to distribute Carrier, Bryant, and Payne branded HVAC equipment and parts across Canada. The new entity will operate 35 locations and serve approximately 5,000 contractors.

“On March 13, 2012, Watsco, Inc., a Florida corporation (the “Company”), entered into an asset purchase agreement (the “Purchase Agreement”) with Watsco Canada, Inc., UTC Canada Corporation (“UTC Canada”), an affiliate of Carrier Corporation (“Carrier”), and Carrier Enterprise Canada, L.P. (“Carrier Enterprise Canada”), pursuant to which the Company and UTC Canada have agreed to form a joint venture to distribute Carrier, Bryant and Payne branded residential, light-commercial and commercial applied air conditioning and heating equipment and related parts and supplies throughout the provinces and territories of Canada.”

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