AcquisitionsApr 29, 2026, 04:18 PM
WATSCO to Acquire Jackson Supply HVAC Business for $198M in Stock
AI Summary
Watsco, Inc. announced that its wholly-owned subsidiary, Jackson Supply LLC, entered into an asset purchase agreement to acquire the HVAC distribution business of Jackson Supply Company. The transaction involves Watsco issuing $198.0 million in Common Stock as consideration, with $25.0 million of these shares to be held in escrow. The closing is contingent on customary conditions, including regulatory approval, and the shares will be issued in reliance on an exemption from registration.
Key Highlights
- WATSCO's subsidiary, Jackson Supply LLC, to acquire the HVAC distribution business of Jackson Supply Company.
- Consideration for the acquisition is $198.0 million, net of debt and expenses, paid in WATSCO Common Stock.
- $25.0 million of the Consideration Shares will be held in escrow for up to 12 months.
- Estimated 458,985 Consideration Shares to be issued based on VWAP as of April 27, 2026.
- Closing is subject to customary conditions, including regulatory approval.
- The Consideration Shares are unregistered, issued under Section 4(a)(2) of the Securities Act.
Price Impact
More from WSO