{"success":true,"data":{"pressRelease":{"id":"166254","rtpr_id":"nGNX1C0d3N-20261012","ticker":"WSO","exchange":"NYSE","all_tickers":["WSO"],"title":"Watsco Completes Acquisition of The Granite Group, Distributor of Plumbing and HVAC Products with $500 Million in Revenue Throughout the Northeast","author":"Globe Newswire","published_at":"2026-10-12T11:30:00.148Z","article_body":"MIAMI, Oct. 12, 2026 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced\ntoday that it has completed the previously announced acquisition of The\nGranite Group, a diversified distributor of plumbing and HVAC products with\napproximately $500 million in sales throughout seven Northeast States.\nWatsco’s ownership culture, scale, OEM relationships and industry-leading\ntechnologies are now available to Granite’s leadership team and customers to\nhelp them accelerate beyond their impressive track record of growth.\n\nFounded in 1971 and headquartered in Concord, New Hampshire, The Granite Group\nis a third-generation, family-led distributor serving customers across seven\nstates in New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode\nIsland and New York.\n\nThe Granite Group serves approximately 11,000 customers from 82 locations and\noffers approximately 29,000 SKUs sourced from over 450 vendors. The Granite\nGroup has achieved a 10% annual compounded growth rate in sales since 2010\nthrough a combination of bolt-on acquisitions and more than 30 new store\nopenings to win new customers and better serve existing customers. \n\nWatsco’s partnership with The Granite Group adds scale, density, product\ndiversification and deepens Watsco’s market position in the growing plumbing\nspace – a large and fragmented market that represents compelling avenues for\nexpansion.\n\nThe Granite Group will operate as an independent business and will continue\nto be led by its existing management team, under the leadership of Bill\nCondron, in keeping with Watsco’s long-standing and successful strategy of\ninvesting in great leadership teams and successful cultures.\n\nAlbert H. Nahmad, Watsco’s Chairman and CEO said: “The Granite Group is a\nlegendary distributor in our industry with an entrepreneurial spirit that\nmirrors our own. They have embraced our ownership culture and we look forward\nto supporting their growth plan with our scale, capital and technology to\nbuild on their track record of success. We are pleased to become part of their\nfamily.”\n\nBill Condron, CEO of The Granite Group, commented: “The Granite Group and\nWatsco share similar cultures and think about the business in similar ways. We\nlove the fact that The Granite Group will remain independent while gaining\naccess to Watsco’s scale, capital, and the most advanced technology\nplatforms in the industry. Our team is motivated to join and collaborate with\nWatsco’s community of great companies and leadership teams.”\n\nWatsco’s Buy and Build Growth Strategy\n\nThe closing of The Granite Group acquisition marks the second, large\nacquisition completed by Watsco during 2026. In June, Watsco closed on the\nacquisition of Jackson Supply Company, a market-leading HVAC distributor with\nannualized sales of approximately $230 million across 25 Sunbelt locations.\nJackson Supply offers a balanced product offering of HVAC equipment, parts and\nsupplies. As importantly, Jackson Supply added to Watsco’s entrepreneurial\ncommunity of leaders.\n\nWatsco has acquired 74 businesses in the HVAC and plumbing markets since\n1989, most of which were successful, multi-generation, family-owned\nbusinesses. Watsco’s buy and build strategy is as follows:\n* Identify and partner with great distribution businesses.\n* Support their leadership team and honor the culture and legacies they\ncreated.\n* Ask for aggressive growth plans and help leadership achieve their\nambitions. \n* Motivate teams and build an ownership culture with long-term equity.\n* Deploy the industry’s most comprehensive suite of customer-focused\ntechnologies.\n* Solicit and collaborate on big ideas to foster a spirit of innovation and\ngrowth.\n* Build a stronger Watsco because of our association with these companies.\nWatsco is actively seeking additional opportunities to invest and grow\nthrough acquisitions to expand its relatively low market share of the\nestimated $74 billion North American distribution marketplace.\n\nAbout Watsco\n\nWatsco is the largest distributor in the highly fragmented North American HVAC\nmarket. Since entering distribution in 1989, Watsco has achieved a 17%\ncompounded annual total shareholder return through a combination of organic\ngrowth and the acquisition of more than 70 market-leading businesses.\n\nWatsco maintains a solid balance sheet, enabling sustained investments in\ngrowth, including the Company’s industry-leading technologies. Today, more\nthan 70,000 contractors and technicians engage digitally, empowering them to\nadopt and integrate Watsco’s tools into their daily operations. The Company\nis also introducing AI-driven initiatives to leverage its extensive data\nassets and enrich the customer experience. The Company believes its technology\necosystem represents a durable and widening competitive advantage in its\nhighly fragmented industry.\n\nThis document includes certain “forward-looking statements” within the\nmeaning of the Private Securities Litigation Reform Act of 1995. These\nforward-looking statements may address, among other things, our expected\nfinancial and operational results and the related assumptions underlying our\nexpected results. These forward-looking statements are distinguished by use of\nwords such as “will,” “would,” “anticipate,” “expect,”\n“believe,” “designed,” “plan,” or “intend,” the negative of\nthese terms, and similar references to future periods. These statements are\nbased on management's current expectations and are subject to uncertainty and\nchanges in circumstances. Actual results may differ materially from these\nexpectations due to changes in economic, business, competitive market, new\nhousing starts and completions, capital spending in commercial construction,\nconsumer spending and debt levels, regulatory and other factors, including,\nwithout limitation, the effects of supplier concentration, competitive\nconditions within Watsco’s industry, the seasonal nature of sales of\nWatsco’s products, the ability of the Company to expand its business,\ninsurance coverage risks and final GAAP adjustments. Detailed information\nabout these factors and additional important factors can be found in the\ndocuments that Watsco files with the Securities and Exchange Commission,\nsuch as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak\nonly as of the date the statements were made. Watsco assumes no obligation\nto update forward-looking information to reflect actual results, changes in\nassumptions or changes in other factors affecting forward-looking information,\nexcept as required by applicable law.\n\nBarry S. Logan\nExecutive Vice President\n(305) 714-4102\ne-mail: blogan@watsco.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2a8fdcea-1fe8-492e-b588-03fbba943e5a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX1C0d3N-20261012","title":"Watsco Completes Acquisition of The Granite Group, Distributor of Plumbing and HVAC Products with $500 Million in Revenue Throughout the Northeast","author":"Globe Newswire","ticker":"WSO","created":"2026-10-12T11:30:00.148Z","tickers":["WSO"],"exchange":"NYSE","article_body":"MIAMI, Oct. 12, 2026 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced\ntoday that it has completed the previously announced acquisition of The\nGranite Group, a diversified distributor of plumbing and HVAC products with\napproximately $500 million in sales throughout seven Northeast States.\nWatsco’s ownership culture, scale, OEM relationships and industry-leading\ntechnologies are now available to Granite’s leadership team and customers to\nhelp them accelerate beyond their impressive track record of growth.\n\nFounded in 1971 and headquartered in Concord, New Hampshire, The Granite Group\nis a third-generation, family-led distributor serving customers across seven\nstates in New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode\nIsland and New York.\n\nThe Granite Group serves approximately 11,000 customers from 82 locations and\noffers approximately 29,000 SKUs sourced from over 450 vendors. The Granite\nGroup has achieved a 10% annual compounded growth rate in sales since 2010\nthrough a combination of bolt-on acquisitions and more than 30 new store\nopenings to win new customers and better serve existing customers. \n\nWatsco’s partnership with The Granite Group adds scale, density, product\ndiversification and deepens Watsco’s market position in the growing plumbing\nspace – a large and fragmented market that represents compelling avenues for\nexpansion.\n\nThe Granite Group will operate as an independent business and will continue\nto be led by its existing management team, under the leadership of Bill\nCondron, in keeping with Watsco’s long-standing and successful strategy of\ninvesting in great leadership teams and successful cultures.\n\nAlbert H. Nahmad, Watsco’s Chairman and CEO said: “The Granite Group is a\nlegendary distributor in our industry with an entrepreneurial spirit that\nmirrors our own. They have embraced our ownership culture and we look forward\nto supporting their growth plan with our scale, capital and technology to\nbuild on their track record of success. We are pleased to become part of their\nfamily.”\n\nBill Condron, CEO of The Granite Group, commented: “The Granite Group and\nWatsco share similar cultures and think about the business in similar ways. We\nlove the fact that The Granite Group will remain independent while gaining\naccess to Watsco’s scale, capital, and the most advanced technology\nplatforms in the industry. Our team is motivated to join and collaborate with\nWatsco’s community of great companies and leadership teams.”\n\nWatsco’s Buy and Build Growth Strategy\n\nThe closing of The Granite Group acquisition marks the second, large\nacquisition completed by Watsco during 2026. In June, Watsco closed on the\nacquisition of Jackson Supply Company, a market-leading HVAC distributor with\nannualized sales of approximately $230 million across 25 Sunbelt locations.\nJackson Supply offers a balanced product offering of HVAC equipment, parts and\nsupplies. As importantly, Jackson Supply added to Watsco’s entrepreneurial\ncommunity of leaders.\n\nWatsco has acquired 74 businesses in the HVAC and plumbing markets since\n1989, most of which were successful, multi-generation, family-owned\nbusinesses. Watsco’s buy and build strategy is as follows:\n* Identify and partner with great distribution businesses.\n* Support their leadership team and honor the culture and legacies they\ncreated.\n* Ask for aggressive growth plans and help leadership achieve their\nambitions. \n* Motivate teams and build an ownership culture with long-term equity.\n* Deploy the industry’s most comprehensive suite of customer-focused\ntechnologies.\n* Solicit and collaborate on big ideas to foster a spirit of innovation and\ngrowth.\n* Build a stronger Watsco because of our association with these companies.\nWatsco is actively seeking additional opportunities to invest and grow\nthrough acquisitions to expand its relatively low market share of the\nestimated $74 billion North American distribution marketplace.\n\nAbout Watsco\n\nWatsco is the largest distributor in the highly fragmented North American HVAC\nmarket. Since entering distribution in 1989, Watsco has achieved a 17%\ncompounded annual total shareholder return through a combination of organic\ngrowth and the acquisition of more than 70 market-leading businesses.\n\nWatsco maintains a solid balance sheet, enabling sustained investments in\ngrowth, including the Company’s industry-leading technologies. Today, more\nthan 70,000 contractors and technicians engage digitally, empowering them to\nadopt and integrate Watsco’s tools into their daily operations. The Company\nis also introducing AI-driven initiatives to leverage its extensive data\nassets and enrich the customer experience. The Company believes its technology\necosystem represents a durable and widening competitive advantage in its\nhighly fragmented industry.\n\nThis document includes certain “forward-looking statements” within the\nmeaning of the Private Securities Litigation Reform Act of 1995. These\nforward-looking statements may address, among other things, our expected\nfinancial and operational results and the related assumptions underlying our\nexpected results. These forward-looking statements are distinguished by use of\nwords such as “will,” “would,” “anticipate,” “expect,”\n“believe,” “designed,” “plan,” or “intend,” the negative of\nthese terms, and similar references to future periods. These statements are\nbased on management's current expectations and are subject to uncertainty and\nchanges in circumstances. Actual results may differ materially from these\nexpectations due to changes in economic, business, competitive market, new\nhousing starts and completions, capital spending in commercial construction,\nconsumer spending and debt levels, regulatory and other factors, including,\nwithout limitation, the effects of supplier concentration, competitive\nconditions within Watsco’s industry, the seasonal nature of sales of\nWatsco’s products, the ability of the Company to expand its business,\ninsurance coverage risks and final GAAP adjustments. Detailed information\nabout these factors and additional important factors can be found in the\ndocuments that Watsco files with the Securities and Exchange Commission,\nsuch as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak\nonly as of the date the statements were made. Watsco assumes no obligation\nto update forward-looking information to reflect actual results, changes in\nassumptions or changes in other factors affecting forward-looking information,\nexcept as required by applicable law.\n\nBarry S. Logan\nExecutive Vice President\n(305) 714-4102\ne-mail: blogan@watsco.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2a8fdcea-1fe8-492e-b588-03fbba943e5a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-12T11:30:00.208272131Z","server_sent_at_ms":1791804600208},"received_at":"2026-10-12T11:30:00.414Z","source_url":null},"analysis":{"id":"154624","press_release_id":"166254","analysis_json":{"industry":{"label":"Trading Companies & Distributors","sector":"Industrials"},"redFlags":["purchase price and deal terms not disclosed in the release"],"eventType":"m_and_a","narrative":"Watsco completed its acquisition of The Granite Group, a plumbing and HVAC distributor with roughly $500 million in annual sales across seven Northeast states.\n\nGranite brings ~11,000 customers, 82 locations, and ~29,000 SKUs, and has compounded sales at 10% annually since 2010; it will operate independently under CEO Bill Condron.\n\nThis is Watsco's second large 2026 acquisition following June's Jackson Supply deal, extending its buy-and-build strategy in the fragmented $74 billion North American distribution market.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Watsco adds a $500M-revenue Northeast distributor, its second large 2026 deal, deepening its push into plumbing consolidation."},"keyFigures":{"dealValueUsd":0,"customDimensions":{"target_skus":29000,"target_revenue":"$500 million","target_vendors":450,"target_customers":11000,"target_locations":82,"northeast_states_covered":7,"target_sales_cagr_since_2010":"10%"}},"quotedText":"The Granite Group is a legendary distributor in our industry with an entrepreneurial spirit that mirrors our own.","namedEntities":{"people":[{"name":"Albert H. Nahmad","role":"Chairman and CEO of Watsco"},{"name":"Bill Condron","role":"CEO of The Granite Group"},{"name":"Barry S. Logan","role":"Executive Vice President of Watsco"}],"products":["HVAC equipment, parts and supplies","plumbing products"],"companies":[{"name":"Watsco, Inc.","ticker":"WSO","relationship":"acquirer"},{"name":"The Granite Group","relationship":"target"},{"name":"Jackson Supply Company","relationship":"prior acquisition (June 2026)"}],"dollarAmounts":[{"amount":"$500 million","context":"The Granite Group annual sales"},{"amount":"$230 million","context":"Jackson Supply Company annualized sales"},{"amount":"$74 billion","context":"estimated North American distribution marketplace"}]},"materialImpact":{"score":3,"reasoning":"Completed acquisition of a distributor with ~$500M in revenue, Watsco's second large deal of 2026, deepening its plumbing/HVAC footprint in the Northeast. Already announced, so less surprising, but materially accretive to scale."},"tickerRelevance":{"others":[],"primary":"WSO"},"globalImportance":38,"audienceRelevance":25,"eventTypeSecondary":["operations_update"],"importanceComponents":{"novelty":"closing of previously announced deal","tickerTier":"large-cap industrial","eventGravity":"completed M&A with ~$500M target revenue, terms undisclosed","sectorWeight":"HVAC/plumbing distribution consolidation"}},"event_type":"m_and_a","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"Watsco completed its acquisition of The Granite Group, a plumbing and HVAC distributor with roughly $500 million in annual sales across seven Northeast states.\n\nGranite brings ~11,000 customers, 82 locations, and ~29,000 SKUs, and has compounded sales at 10% annually since 2010; it will operate independently under CEO Bill Condron.\n\nThis is Watsco's second large 2026 acquisition following June's Jackson Supply deal, extending its buy-and-build strategy in the fragmented $74 billion North American distribution market.","key_figures":{"dealValueUsd":0,"customDimensions":{"target_skus":29000,"target_revenue":"$500 million","target_vendors":450,"target_customers":11000,"target_locations":82,"northeast_states_covered":7,"target_sales_cagr_since_2010":"10%"}},"named_entities":{"people":[{"name":"Albert H. Nahmad","role":"Chairman and CEO of Watsco"},{"name":"Bill Condron","role":"CEO of The Granite Group"},{"name":"Barry S. Logan","role":"Executive Vice President of Watsco"}],"products":["HVAC equipment, parts and supplies","plumbing products"],"companies":[{"name":"Watsco, Inc.","ticker":"WSO","relationship":"acquirer"},{"name":"The Granite Group","relationship":"target"},{"name":"Jackson Supply Company","relationship":"prior acquisition (June 2026)"}],"dollarAmounts":[{"amount":"$500 million","context":"The Granite Group annual sales"},{"amount":"$230 million","context":"Jackson Supply Company annualized sales"},{"amount":"$74 billion","context":"estimated North American distribution marketplace"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-12T11:30:06.161Z","global_importance":38,"audience_relevance":25,"importance_components":{"novelty":"closing of previously announced deal","tickerTier":"large-cap industrial","eventGravity":"completed M&A with ~$500M target revenue, terms undisclosed","sectorWeight":"HVAC/plumbing distribution consolidation"}},"durationMs":5750,"modelName":"glm-5.3-flashx"}}