Watsco Completes Acquisition of Southern Ice Equipment Distributors
Deal News | May 05, 2025 | Globenewswire
Watsco, Inc., the largest distributor of HVAC/R products in North America, announced the acquisition of Southern Ice Equipment Distributors and two other companies in early 2025. Southern Ice, a distributor of commercial refrigeration equipment, based in Lafayette, Louisiana, will continue to operate under its current name and leadership. The addition of Southern Ice, along with Lashley & Associates from Texas and Hawkins HVAC Distributors from the Carolinas, strengthens Watsco's footprint in the high-growth Sunbelt region with an additional 10 locations and an increment of $47 million in annualized sales. Albert H. Nahmad, Watsco's CEO, emphasized integrating and investing in growth while respecting each company's culture. Historically, Watsco has completed numerous acquisitions, aligning with their strategy to partner with, motivate, and grow industry-related businesses while advancing environmental goals through energy-efficient systems. The company remains active in pursuing further acquisitions to enhance its portfolio and market reach.
Sectors
- HVAC/R Distribution
- Commercial Refrigeration Equipment
- Environmental Sustainability
Geography
- United States – Watsco's acquisitions, including Southern Ice Equipment Distributors, Lashley & Associates, and Hawkins HVAC Distributors, are located within the United States, particularly in the Sunbelt region.
- Sunbelt Region – The acquisitions are concentrated in high-growth states in the Sunbelt, such as Texas, Louisiana, and the Carolinas, which are strategic for Watsco's expansion.
Industry
- HVAC/R Distribution – The article focuses on Watsco, a leading company in the heating, ventilation, air conditioning, and refrigeration (HVAC/R) distribution industry, which has expanded its operations through acquisitions.
- Commercial Refrigeration Equipment – Southern Ice Equipment Distributors is a prominent player in the commercial refrigeration equipment sector, providing products to regional markets, which makes this industry relevant to the article.
- Environmental Sustainability – Watsco's focus on replacing older HVAC systems with more efficient ones contributes significantly to reducing CO2e emissions, highlighting its role in environmental sustainability.
Financials
- 47 million – Annualized sales added through the recent acquisitions of Southern Ice, Lashley & Associates, and Hawkins HVAC Distributors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Watsco, Inc. | Acquirer | Company | Watsco is the largest distributor of HVAC/R products in North America, focusing on energy-efficient replacements and system upgrades. |
| Southern Ice Equipment Distributors | Target Company | Company | A leading distributor of commercial refrigeration equipment based in Lafayette, Louisiana, operating in key Sunbelt markets. |
| Lashley & Associates | Target Company | Company | A distributor of commercial supplies and custom air movement products based in Houston, Texas. |
| Hawkins HVAC Distributors | Target Company | Company | An HVAC equipment and supplies distributor in Charlotte, North Carolina and Columbia, South Carolina. |
| Albert H. Nahmad | Chairman and CEO | Person | The Chairman and CEO of Watsco, overseeing the company's strategic acquisition and expansion plans. |
| Manitowoc Ice | OEM Partner | Company | A division of Pentair plc manufacturing products distributed by Southern Ice Equipment Distributors. |