Baird served as a joint book-running manager on this transaction
AboutWatsco, Inc. (“Watsco”) (NYSE:WSO) recently completed a follow-on offering of 4,235,685 shares of common stock, at a price of $144.00 per share, generating gross proceeds of approximately $610 million. All shares offered were sold by subsidiaries of United Technologies Corp. (NYSE:UTX). Watsco will not receive any proceeds from the offering.
Watsco is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC/R industry, currently operating 565 locations serving 88,000 customers in the United States, Canada, Mexico and Puerto Rico. Watsco's strategy provides the products, support and convenience that contractors require to satisfy the needs of homeowners and businesses that depend on the comfort and energy-efficiency provided by HVAC systems. Watsco is headquartered in Miami, Florida.
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- February 2017
- Watsco, Inc.
- Target Location
- North America