Watsco Completes Acquisition of DASCO Supply
April 04 2019 - 10:32AM
Watsco, Inc. (NYSE:WSO) announced today that it has completed the
acquisition of DASCO Supply, a distributor of air conditioning and
heating products based in Whippany, New Jersey.
Founded in 1974, DASCO Supply operates seven
locations in New Jersey, New York and Connecticut. They serve more
than 2,500 air conditioning and heating contractors and offer
approximately 15,000 SKUs of air conditioning and heating products
for both residential and commercial use. DASCO had revenues of
approximately $56 million in 2018.
Albert Nahmad, Watsco's Chairman and CEO,
commented: "DASCO has a wonderful legacy and is a force in its
markets. Their exceptional team of employees have been together a
long time and we are honored to become part of their family. We
recognize that their success over the last 45 years is based on the
strong relationships along with great service and a broad range of
products from convenient locations. To provide on-going continuity,
DASCO will operate as a subsidiary of Watsco under its present name
and leadership team, and we will provide the resources and
technology where needed to assist in achieving their growth
plans."
About Watsco
Watsco is the largest distribution network
for heating, air conditioning and refrigeration (HVAC/R) products
with locations in the United
States, Canada, Mexico and Puerto Rico, and on
an export basis to Latin America and the Caribbean.
Watsco estimates that over 300,000 contractors and technicians
visit or call one of its 571 locations each year to get
information, obtain technical support and buy products. HVAC/R
products provide comfort to homes and businesses regardless of the
outdoor climate. Older systems often operate below today’s
government mandated energy efficiency and environmental
standards. Watsco has an opportunity to accelerate the
replacement of these systems at a scale greater than its
competitors as the movement toward reducing energy consumption and
its environmental impact continues. This is especially important
since heating and cooling accounts for approximately half of the
energy consumed in a typical U.S. home. Additional information
about Watsco may be found
at http://www.watsco.com.
Barry S. LoganSenior Vice President(305)
714-4102e-mail: blogan@watsco.com
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