logo
Plus   Neg
Share
Email

Watsco To Buy Peirce-Phelps - Quick Facts

Watsco, Inc. (WSO) has agreed to acquire the HVAC business of Peirce-Phelps, Inc. Peirce-Phelps is one of the largest HVAC distributors in North America. Annual sales of Peirce-Phelps were approximately $206 million. It has over 9,000 customers.

Albert Nahmad, Watsco's CEO said: "Peirce-Phelps has one of the most long-standing family legacies in our industry as evidenced by the four third-generation Peirce brothers who operate the business. They will continue to lead the company moving forward."

Peirce-Phelps will operate as a separate business of Carrier Enterprise, LLC, a joint venture between Watsco and Carrier Corp.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
RELATED NEWS
Follow RTT