Watsco buys $500 million Northeast distributor with 82 locations

Distribution giant Watsco on Monday announced that it will acquire New Hampshire-based HVAC and plumbing distributor The Granite Group. 

What’s happening: The Granite Group counts 82 locations across seven Northeastern states and generates approximately $500 million in annual sales, per a news release. Deal terms weren’t disclosed. 

• The Granite Group will continue to operate as an independent business, led by its existing management team, the release noted. 

Zoom out: The deal marks the latest step in Watsco’s ongoing buy-and-build strategy, with the publicly traded company having acquired 73 HVAC and plumbing distributors since 1989.  

• In April, Watsco announced it was acquiring Jackson Supply, which has 25 locations across the Sunbelt region and generated $230 million in revenue in 2025, for an undisclosed sum. 

What they’re saying: “The Granite Group is one of the most respected, entrepreneurial businesses in our industry. For more than 50 years, the Condron family and their team have built a company defined by an extraordinary people-first culture, an entrepreneurial spirit that mirrors our own and an unwavering commitment to their customers,” Watsco CEO Albert Nahmad said in a statement. 

• “Watsco was the logical choice for The Granite Group in that we remain independent while gaining access to Watsco’s scale, capital, and the most advanced technology platforms in the industry,” Granite Group CEO Bill Condron added.