| Watsco to Acquire $240M ACR Group, Inc.
Watsco, Inc., Coconut Grove, FL, has agreed to buy ACR Group, Inc. for $6.75 a share in cash, a 42% premium to the 90-day average closing price. ACR is a $240 million distributor of air conditioning and heating products.
ACR, Houston, TX, operates from 54 locations serving over 12,000 air conditioning and heating contractors throughout Florida, Texas, California, Georgia, Tennessee, Arizona, Colorado, Louisiana, Nevada and New Mexico. ACR has 503 employees and distributes a full line of air conditioning and heating equipment and related parts and supplies of 20,000 SKUs.
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