$230 Million Distributor Adds 25 Locations in Core Sunbelt Markets

Buy-and-Build Opportunity Adds Scale and Leverages Long-Term Technology Advantage

MIAMI, April 28, 2026 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE:WSO) announced today the signing of a definitive agreement to acquire Jackson Supply Company.

Founded in 1972, Jackson Supply Company is one of the Sunbelt's largest HVAC distributors with sales of $230 million in 2025. The Company serves approximately 5,000 customers from 25 locations in high-growth Sunbelt markets such as Texas, Louisiana, Tennessee, Alabama, Mississippi, Oklahoma and Arizona. Its diversified, balanced product offering includes Goodman and Amana brand HVAC equipment manufactured by Daikin Comfort Technologies North America, Inc. along with a broad array of supplies, accessories, and parts sourced from approximately 200 vendors.

Jackson Supply will operate as an independent business and will continue to be led by its existing management team, under the leadership of Jim Durrett and Jennifer Ballsieper, in keeping with Watsco's long-standing approach of investing in great leadership teams and successful cultures. The transaction is expected to close in the second quarter and is subject to customary closing conditions and regulatory approvals.

Albert H. Nahmad, Watsco's Chairman and CEO said: "Jackson Supply is one of the most iconic, entrepreneurial businesses in our industry. Jim Durret and his next generation team of leaders will continue to guide the Company in their next chapter of growth, while sustaining their name, identity and unique culture. We look forward to supporting their growth with our capital, technology, industry relationships, and more to build on their impressive track record of success. We are pleased to become part of the Jackson Supply family."

Jim Durrett, Chairman of Jackson Supply, commented: "We are proud and excited to join the Watsco family. Partnering with Watsco was the logical choice – Jackson Supply will retain its identity, culture and the unique approach to serving HVAC contractors that has made us so successful. We have ambitious growth plans and are ready to capitalize on the opportunities ahead. We also look forward to adopting Watsco's innovative technology platforms to support our customers, complementing the customer focus that is at the heart of Jackson Supply's culture."

Watsco's Buy and Build Growth Strategy

Watsco has acquired 72 businesses since 1989, most of which were successful, multi-generation, family-owned businesses. Watsco's buy and build strategy can be summarized as follows:

– Identify and partner with great businesses focused on the HVAC/R industry

– Support their leadership team and honor the culture and legacies they created

– Ask for aggressive growth plans and help leadership achieve their ambitions

– Motivate teams and reaffirm an ownership culture with long-term equity

– Deploy the industry's most comprehensive suite of customer-focused technologies

– Solicit and collaborate on big ideas to foster a spirit of innovation and growth

– Build a stronger Watsco because of our association with these companies

Watsco is actively seeking additional opportunities to invest and grow through acquisitions to expand our relatively low market share of the estimated $74 billion North American distribution marketplace for HVAC/R products.

About Watsco

Watsco is the largest distributor in the highly-fragmented North American HVAC/R market. Watsco's solid financial position and culture of innovation has enabled investments in long-term growth, including the Company's industry-leading technology platforms. Today, approximately 74,000 contractors, installers and technicians engage digitally with the Company, resulting in improved growth and lower attrition. The Company is now advancing AI-driven initiatives to leverage its extensive data assets to enhance the customer experience and improve efficiencies. These investments position Watsco to capture market share as contractors increasingly adopt digital tools and incorporate data-driven solutions in their businesses.

This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco's industry, the seasonal nature of sales of Watsco's products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Detailed information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law.

Contact

Barry S. Logan

Executive Vice President

(305) 714-4102

e-mail: blogan@watsco.com

Watsco To Acquire Jackson Supply Company