Watsco to acquire HVAC distributor Peirce-Phelps

Watsco signed an agreement to acquire Peirce-Phelps, a $206 million Philadelphia-based HVAC distributor, which will operate as a separate business of Carrier Enterprise (an 80/20 JV between Watsco and Carrier). Closing expected within 30 days.

“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.