$56 Million Northeastern HVAC Distributor
MIAMI, April 04, 2019 (GLOBE NEWSWIRE) — 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.”
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. Logan
Senior Vice President
Source: Watsco, Inc.