On the Record · Watsco
Watsco acquisitions, on the record
The businesses Watsco bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Peirce-Phelps, Inc.Word for word“In 2019, Carrier Enterprise I acquired substantially all of the HVAC assets and assumed certain of the liabilities of Peirce-Phelps, Inc., an HVAC distributor operating in Pennsylvania, New Jersey, and Delaware.” 10-K for 2023 | acquisition | 2019 | — |
Temperature Equipment Corporation HVAC distribution businessWord for word“In 2021, we acquired certain assets and assumed certain liabilities comprising the HVAC distribution business of Temperature Equipment Corporation, one of Carrier’s independent distributors with locations in Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri and Wisconsin.” 10-K for 2023 | acquisition | 2021 | — |
Gateway Supply LLC (GWS)Word for word“From the acquisition date of September 1, 2023 to December 31, 2023, the processes and systems of GWS did not impact the internal controls over financial reporting for our other consolidated subsidiaries.” 10-K for 2023 | acquisition | September 1, 2023 | — |
69 HVAC/R distribution businessesWord for word“Since 1989, we have acquired 69 HVAC/R distribution businesses, some of which are now primary operating subsidiaries.” 10-K for 2023 | acquisition | Since 1989 | — |
Temperature Equipment Corporation (“TEC”)Word for word“In 2021, we and Carrier formed a new joint venture and acquired certain assets and assumed certain liabilities comprising the HVAC distribution business of Temperature Equipment Corporation (“TEC”), one of Carrier’s independent distributors with locations in Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri and Wisconsin.” 10-K for 2024 | acquisition | 2021 | — |
HVAC/R distribution businessesWord for word“Since 1989, we have acquired 70 HVAC/R distribution businesses, some of which are now primary operating subsidiaries.” 10-K for 2024 | acquisition | Since 1989 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2018-12-31 | $5.6 million | $13.3 million |
| 2019-12-31 | $59.7 million | $410,000 |
| 2020-12-31 | $0 | $410,000 |
| 2021-12-31 | $129.5 million | $21.3 million |
| 2022-12-31 | $47,000 | $60,000 |
| 2023-12-31 | $3.8 million | $25.5 million |
| 2024-12-31 | $5.2 million | $2.5 million |
| 2025-12-31 | $19.2 million | $7.6 million |
Deal filings since 2016
- 2023-03-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-08-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-04-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-12-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-02-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-08-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-02-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Watsco’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.