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Watsco to Acquire The Granite Group, Distributor of Plumbing and HVAC Products; Revenues of $500 Million Throughout the Northeast

WSO
  • Watsco, Inc. (NYSE: WSO) announced an agreement on September 14, 2026, to acquire The Granite Group, a plumbing & HVAC distributor with approximately $500 million in sales.
  • The Granite Group operates across seven Northeast states: New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island, and New York.
  • Founded in 1971, the third-generation, family-led business serves 11,000 customers from 82 locations with 29,000 SKUs sourced from over 450 vendors.
  • The Granite Group achieved a 10% compounded annual sales growth rate since 2010 via bolt-on acquisitions and over 30 new store openings.
  • The transaction will allow The Granite Group to operate independently under existing CEO Bill Condron while leveraging Watsco's scale, capital, and technology.
  • The deal is expected to close following customary conditions and regulatory approvals.
  • This acquisition marks Watsco's second major purchase in 2026, following the June 1, 2026, closing on Jackson Supply Company.
  • Watsco has acquired 73 businesses since 1989 and aims to expand its share of the estimated $74 billion North American distribution market.
  • Watsco maintains an 18% compounded annual total shareholder return since 1989 and utilizes AI-driven initiatives to enhance customer experience.
  • The announcement includes standard forward-looking statements regarding expected results subject to economic, regulatory, and market uncertainties.