Mergers & Acquisitions ·
Watsco Inc. entered into a merger agreement to acquire Granite Group Holdings, a diversified distributor of plumbing…
WSOWatsco Inc
Watsco Inc. entered into a merger agreement to acquire Granite Group Holdings, a diversified distributor of plumbing and HVAC products with approximately $500 million in sales across seven Northeastern states. The transaction involves an aggregate purchase price of $505.0 million, subject to customary post-closing adjustments. Consideration will be paid as 80% cash and 20% Watsco common stock, with an estimated issuance of 324,257 shares based on the ten-day volume-weighted average price ending September 16, 2026. Closing is contingent upon customary conditions, including Hart-Scott-Rodino antitrust clearance. Watsco Inc. operates in the wholesale distribution industry, supplying HVACR (heating, ventilation, air conditioning, and refrigeration) products.