Watsco has entered into an agreement to acquire The Granite Group, a plumbing and HVAC products distributor with approximately $500 million in sales across seven northeastern US states. The transaction will add 82 locations to Watsco’s distribution operations and is expected to close following customary closing conditions and regulatory approvals.
Founded in 1971, The Granite Group serves approximately 11,000 customers across New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island and New York. The company offers approximately 29,000 SKUs sourced from more than 450 vendors.
The Granite Group has recorded a 10% compounded annual sales growth rate since 2010 through bolt-on acquisitions and more than 30 new store openings. Following the acquisition, it will continue to operate as an independent business under its existing management team led by CEO Bill Condron.
The acquisition follows Watsco’s June 1, 2026 purchase of Jackson Supply Company, an HVAC distributor with annualized sales of approximately $230 million across 25 Sunbelt locations. Watsco said it has acquired 73 businesses in the HVAC and plumbing markets since 1989 and is seeking additional acquisitions in the estimated $74 billion North American distribution market.
“We share similar cultures and think about the business in similar ways. 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,” said Bill Condron, CEO of The Granite Group.
