Watsco has agreed to acquire The Granite Group, a diversified distributor of plumbing and HVAC products with approximately $500 million in annual sales, expanding Watsco’s presence across the Northeast and strengthening its position in the fragmented plumbing distribution market.
Founded in 1971 and headquartered in Concord, New Hampshire, The Granite Group is a third-generation, family-led distributor operating across New Hampshire, Vermont, Maine, Massachusetts, Connecticut, Rhode Island and New York.
The company serves approximately 11,000 customers through 82 locations and offers about 29,000 SKUs sourced from more than 450 vendors.
The Granite Group has generated a 10% compound annual growth rate in sales since 2010 through a combination of bolt-on acquisitions and more than 30 new store openings.
Watsco said the acquisition will add greater scale, geographic density and product diversification to its platform while deepening its position in plumbing distribution.
The Granite Group will continue operating as an independent business under its existing management team led by CEO Bill Condron.
That structure is consistent with Watsco’s long-standing acquisition model, which generally involves acquiring successful regional distributors while retaining their leadership teams and operating cultures.
Watsco plans to make its capital, supplier relationships, scale and technology infrastructure available to The Granite Group as management pursues additional growth.
The acquisition follows Watsco’s June 2026 purchase of Jackson Supply Company, an HVAC distributor with approximately $230 million in annualized sales across 25 locations in the Sunbelt.
Watsco has acquired 73 businesses across HVAC and plumbing since 1989, many of them multigenerational family-owned distributors.
The company said it continues to seek acquisitions within an estimated $74 billion North American distribution market where it believes its overall market share remains relatively low.
Watsco is the largest distributor in the fragmented North American HVAC market and has increasingly invested in digital tools and AI-driven initiatives designed to improve the contractor experience.
More than 70,000 contractors and technicians currently engage digitally with Watsco’s technology platforms.
The Granite Group acquisition is expected to close following customary closing conditions and regulatory approvals. Financial terms were not disclosed.
KEY QUOTES:
“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.”
Albert H. Nahmad, Chairman and CEO of Watsco
“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.”
Bill Condron, CEO of The Granite Group
