July 14, 2014: Watsco Increases Ownership in Joint Venture with Carrier
Additional $90 Million Cash Investment Builds on Successful Partnership
MIAMI — Watsco Inc. announced that it has acquired an additional 10 percent ownership interest in Carrier Enterprise LLC, a joint venture with Carrier Corp. The transaction raises Watsco’s ownership stake to 80 percent. The additional $90 million investment in the business was paid in cash.
Carrier Enterprise was launched with Carrier in 2009. It sells a variety of products manufactured by Carrier along with approximately 25,000 SKUs of other products from 121 locations in 19 states, Puerto Rico, and on an export basis to the Caribbean and portions of Latin America. Successive joint ventures were formed by Watsco and Carrier in the northeast United States, Mexico, and Canada.