Carrier's Gift

Analyzing and Forecasting Watsco's Acquisition Activity

In the wake of the Global Financial Crisis, Watsco nearly doubled the size of their business by forming three joint ventures with Carrier. My goal in this short write-up is to:

1. Analyze the Carrier joint ventures

2. Analyze more recent acquisition activity

3. Forecast contributions of future activity to both Watsco’s results and shareholder returns

In their 2009 a…