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Watsco Completes Acquisition of Northeast HVAC Distributor The Granite Group

BullishMedium impact
WSO$279.90 −0.83%

Watsco, Inc. (NYSE:WSO) has finalized its purchase of The Granite Group, a wholesale distributor of heating, ventilation, air conditioning, and plumbing products. Headquartered in Concord, New Hampshire, The Granite Group generates approximately $500 million in annual revenue and operates 82 branch locations serving roughly 11,000 customers across seven Northeast states.

The deal significantly increases Watsco's market presence in the regional plumbing and HVAC distribution space. The Granite Group will continue operating as an independent subsidiary under CEO Bill Condron and its existing management team, while gaining access to Watsco's technology platforms, capital, and purchasing scale. This transaction marks Watsco's second major expansion of 2026, following its June acquisition of Jackson Supply Company, which added $230 million in annualized revenue across 25 Sunbelt locations.

Investors will be looking to see how Watsco integrates both acquisitions while continuing to pursue further deals in the estimated $74 billion North American distribution market. Watsco has acquired 74 businesses since 1989 as part of its buy-and-build strategy to gain market share in a fragmented industry.

Key points

  • Watsco finalized the acquisition of The Granite Group, an HVAC and plumbing distributor with roughly $500 million in annual sales.
  • The transaction adds 82 branch locations across seven Northeast states to Watsco's distribution network.
  • The Granite Group will operate as an independent business while retaining its current leadership team led by CEO Bill Condron.
  • This is Watsco's second major deal of 2026, following the June acquisition of Jackson Supply Company.

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Questions and answers

What company did Watsco acquire?

Watsco completed the acquisition of The Granite Group, a New Hampshire-based distributor of plumbing and HVAC products with approximately $500 million in annual sales across seven Northeast states.

Will The Granite Group management change after the acquisition?

No, The Granite Group will operate as an independent business and remain under the direction of its existing leadership team, including CEO Bill Condron.

How many locations does The Granite Group operate?

The Granite Group operates 82 locations across New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island, and New York.