Watsco acquires additional 10% ownership in joint venture with Carrier Corporation

|By:, SA News Editor

Watsco (NYSE:WSO) acquired an additional 10% ownership interest in Carrier Enterprise Northeast LLC, a joint venture with Carrier Corporation for ~$43M in cash.The transaction raises Watsco’s ownership stake to 70%.

Albert Nahmad, Watsco's Chairman & Chief Executive Officer said: “The formation of our Carrier Enterprise joint ventures has proven to be transformational for our company. The collaboration between Watsco and Carrier has produced terrific results and we are happy to invest further in what has been an unqualified success for both companies.”

Press Release