Watsco to Acquire HVAC Distributor The Granite Group

Watsco Inc., a major HVAC parts and equipment distributor, plans to buy The Granite Group, a plumbing and HVAC distributor with about $500 million in sales across seven Northeastern states: New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island, and New York. The Granite Group, founded in 1971 and based in Concord, New Hampshire, runs 82 locations serving roughly 11,000 customers with about 29,000 different products from more than 450 vendors.

This is a business deal between suppliers, not a change to any specific product, price, or rebate program. The Granite Group will keep operating independently under its current leadership, including CEO Bill Condron, and the deal still needs regulatory approval before it closes. Watsco says the acquisition gives Granite more resources and scale to keep growing, including in the plumbing side of its business.

For homeowners in the Northeast, this mainly affects the supply chain behind the equipment that contractors buy and install — it does not change what's on the market for your home right now. Watsco has been on an acquisition streak, having bought 73 HVAC and plumbing distributors since 1989, including Jackson Supply Co., a Sunbelt distributor with about $230 million in sales, back in June. These mergers can eventually affect which brands and products are most available in a region, but no immediate changes to local HVAC or plumbing supply have been announced.