Watsco Acquires N&S Supply HVACR Distributor

Rochelle Park, NJ - Dec. 12, 2019 - The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client N&S Supply, headquartered in Fishkill, NY, to Watsco Inc. (NYSE : WSO) the largest distribution network for heating, air conditioning and refrigeration products in the Americas.

The DAK Group served as the exclusive investment banker and financial advisor to N&S Supply initiating and managing the process.

“The owners of N&S Supply have built an outstanding business. The sale to Watsco Inc. offers N&S an excellent chance to continue to grow their vision, as well as an exceptional opportunity to monetize their life long investment” stated Alan Scharfstein, President of The DAK Group.

This transaction capitalizes on N&S’s leadership position in the Hudson Valley as a provider of heating, air conditioning, hydronic heating and plumbing products distributed out of seven locations. Incorporated in 1946, this fourth-generation business is a mainstay resource in the area with many legacy customers that span decades.

The DAK Group led a competitive divestiture process garnering several offers, ultimately Watsco Inc. made the acquisition in order to expand their presence in the Northeast United States.

Albert H. Nahmad, Watsco’s Chairman and CEO, stated: “N&S Supply has a wonderful legacy and we are proud to become part of their family. As is our custom, the company will operate under its existing name under the direction of its current leadership team.”

The DAK team was led by Alan Scharfstein, President, along with Steve Raymond, Managing Director and Elyse Greenbaum, Director.