Watsco signs agreement to acquire Peirce-Phelps Inc.

Watsco Inc. signed an agreement to acquire Peirce-Phelps, a $206 million Philadelphia-based HVAC distributor, which will operate as a separate business of Carrier Enterprise LLC (the Watsco/Carrier joint venture). Closing expected within 30 days, expanding Watsco's Northeast distribution footprint.

“MIAMI — Watsco Inc. announced that it has signed an agreement to acquire Peirce-Phelps Inc. Closing of the transaction is subject to customary conditions and is expected to occur within the next 30 days. Peirce-Phelps will operate as a separate business of Carrier Enterprise LLC, a joint venture between Watsco and Carrier Corp.”

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.