Jan. 30, 2008 - HD Supply/Watsco HVAC Deal Cancelled <br> Close 8 Former Apex Branches
“Watsco approached us about this opportunity because they saw the value and profitability of our HVAC business,” said Erica Crosling, director of public relations and community affairs at HD Supply. “We did, and still do believe, in the viability of this business and its long-term growth prospects. Our intent to do business with Watsco was always dependent upon a deal that made sense for us from a financial standpoint. Unfortunately, we could not reach an agreement that made good financial and business sense for us, as our HVAC business is still very viable and profitable. Our strategy remains to provide the best HVAC and plumbing product offerings and service in the business and to continue to be an industry leader in the HVAC and plumbing space.”
In December, Watsco Senior Vice President Barry Logan said that Watsco had signed a letter of intent to acquire the HD Supply branches that sell the Rheem line of HVAC products, primarily in the Southeast.