Watsco Inc. (NYSE: WSO) has acquired an additional 10 percent interest in Carrier Enterprise LLC for $90 million.
Carrier, headquartered in Charlotte, North Carolina, is a joint venture between Watsco and Carrier Corp., part of United Technologies Corp. The group was launched in 2009 and sells the Carrier, Bryant, Payne and Gree brands of HVAC equipment.
The move increases Watsco's stake in Carrier to 80 percent. Watsco, headquartered in Miami, also provides HVAC and related parts.
Other recent HVAC deals include Source Refrigeration & HVAC Inc.'s purchase of Service Refrigeration Co., and Nortek Inc.'s (Nasdaq: NTK) deal for the HVAC business of Thomas & Betts Corp. for $260 million.