Watsco and Carrier Form Joint Venture Carrier Enterprises LLC

Watsco, Inc. and Carrier Corporation executed a definitive agreement to form a joint venture, Carrier Enterprises LLC, to distribute Carrier, Bryant, and Payne HVAC products. Watsco will purchase a 60% interest for approximately $172 million, with options to acquire up to an additional 20% ownership.

“On May 3, 2009, Watsco, Inc. (“Watsco”) executed a definitive purchase and contribution agreement (the “Agreement”) to form a joint venture with Carrier Corporation (“Carrier”), a unit of United Technologies Corporation, to distribute Carrier, Bryant and Payne residential and light commercial HVAC equipment products throughout the U.S. Sunbelt, Latin America and the Caribbean.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.