Watsco to Acquire 60% Stake in Carrier Joint Venture

Watsco agreed to purchase a 60% interest in the newly formed Carrier Enterprises LLC for approximately $172 million, payable in cash, common stock, and contributed locations. The transaction is subject to regulatory approvals and financing.

“We have agreed to purchase a 60% interest in the joint venture for consideration of approximately $172 million, payable in a combination of cash, common stock and by the contribution of certain locations that sell Carrier-made products, with options to purchase up to an additional 20% ownership of the joint venture within the next three to five years.”

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