MIAMI, FL — Watsco Inc. (NYSE: WSO) has entered into an agreement to acquire The Granite Group, a diversified distributor of plumbing and HVAC products with approximately $500 million in sales across seven Northeast states.

Founded in 1971 and headquartered in Concord, New Hampshire, The Granite Group is a third-generation, family-led distributor serving customers in New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island and New York.

The acquisition will expand Watsco’s distribution footprint and deepen its position in the plumbing market. The Granite Group will operate as an independent business under its existing management team, led by CEO Bill Condron.

Granite Group Brings 82 Locations and 29,000 SKUs

The Granite Group serves approximately 11,000 customers through 82 locations and offers approximately 29,000 SKUs sourced from more than 450 vendors.

The company has achieved a 10% annual compounded sales growth rate since 2010 through bolt-on acquisitions and more than 30 new store openings. Those investments have expanded its customer base and increased coverage for existing customers across its Northeast markets.

Watsco’s ownership culture, scale, OEM relationships and technology platforms will be available to Granite’s leadership team as the distributor continues its growth strategy.

Existing Management Team Will Continue to Lead Granite

Watsco said The Granite Group will remain independent following the acquisition, consistent with its approach of retaining existing leadership teams and company cultures.

Albert H. Nahmad, Watsco’s Chairman and CEO, said the acquisition brings together two businesses with similar approaches to leadership, customer service and growth.

“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. We look forward to their inclusion in our ownership culture and to support their plan for growth with our scale, capital and technology to build on their track record of success. We are pleased to become part of their family,” Nahmad said.

Bill Condron said the partnership will allow the company to remain independent while gaining access to Watsco’s resources.

“We have long admired Watsco—its people, its culture and the values that have guided the company. 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. We could not be more excited to join the Watsco family and pursue our ambitious growth plans together," Condron said. 

Acquisition Adds Scale to Watsco’s Plumbing Business

The Granite Group acquisition adds distribution density, product diversification and geographic coverage to Watsco’s plumbing business. The company described plumbing as a large and fragmented market that provides additional opportunities for expansion.

Watsco has acquired 73 businesses in the HVAC and plumbing markets since 1989, with many of those companies being multigenerational, family-owned distributors.

Its acquisition strategy centers on partnering with established distribution businesses, retaining their leadership and cultures, supporting aggressive growth plans, developing an ownership culture and providing technology and resources to support customer service and innovation.

Jackson Supply Acquisition Added HVAC Distribution Scale

The Granite Group transaction follows Watsco’s June 1, 2026, acquisition of Jackson Supply Company, an HVAC distributor with annualized sales of approximately $230 million across 25 Sunbelt locations.

Jackson Supply offers HVAC equipment, parts and supplies and added another group of entrepreneurial leaders to Watsco’s distribution network.

The company said it is continuing to seek acquisition opportunities as it works to expand its share of the estimated $74 billion North American distribution marketplace.

The Granite Group transaction remains subject to customary closing conditions and regulatory approvals.

To learn more visit www.watsco.com.