FARMINGTON, Conn. — UTC Climate, Controls & Security recently signed an agreement with Watsco Inc. (Coconut Grove, Fla.) to form a joint venture named Carrier Enterprise Canada to distribute Carrier, Bryant, and Payne HVAC products and supplies in Canada. Under the agreement, UTC Climate, Controls & Security will contribute its company-operated HVAC distribution business in the region to the new joint venture. Watsco Inc. will own 60 percent of the business through the joint venture.

“Carrier Enterprise’s performance has exceeded our expectations with sales growth outpacing the industry,” said Geraud Darnis, president and CEO, UTC Climate, Controls & Security. “This new joint venture in Canada will build on the success of the Carrier Enterprise business model to further grow share and profitability.”

The transaction is expected to close by the end of April.