Watsco and Carrier Form Carrier Enterprise Joint Venture

Watsco, Inc. and Carrier Corporation completed the formation of Carrier Enterprise, LLC, a joint venture, on July 1, 2009. Carrier contributed 95 locations and Watsco contributed 15 locations to the new entity.

“On July 1, 2009, the Company completed the formation of Carrier Enterprise, LLC (“Carrier Enterprise”), a joint venture with Carrier Corporation (“Carrier”), pursuant to a purchase and contribution agreement dated May 3, 2009, as amended June 29, 2009, by and between Carrier and the Company, under which Carrier contributed 95 locations and the Company contributed 15 locations (the “Transaction”).”

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