Carrier Completes Acquisition of E.B. Ward & Company
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FARMINGTON, Conn., Sept. 18 -- Carrier Corp. has completed its acquisition of E.B. Ward & Company/Valair, a long-standing Carrier distributor of residential, light commercial and commercial products. E.B. Ward/Valair serves Carrier customers in Northern California and parts of Nevada with 140 employees. It has combined annual sales of approximately $150 million. The purchase price is not being disclosed. Carrier, a unit of United Technologies Corp. (NYSE:UTX), is the largest heating, ventilation and air-conditioning (HVAC) distributor in North America with approximately 200 locations in more than 20 U.S. states and Canada.
"The acquisition of E.B. Ward and Valair strengthens our rapidly expanding company-operated sales and distribution network in California," said Geraud Darnis, president of Carrier Corp.
Bob McDonough, president of Carrier's North America Residential and Light Commercial Systems division, added, "We are pleased to serve our customers directly in this large and important market. Combining E.B. Ward's sales and customer service capabilities with the strength of Carrier's brands, products and services, distribution expertise and scale enables us to get closer to our customers and solidify our historical leadership position. We are excited to welcome E.B. Ward's employees into the Carrier family."
About Carrier Corp.
Carrier Corp., headquartered in Farmington, Conn., is the world's largest provider of heating, air-conditioning and refrigeration solutions, with operations in more than 170 countries. Carrier is a subsidiary of United Technologies Corp., a Hartford, Connecticut-based provider of a broad range of high technology products and support services to the aerospace and building systems industries worldwide. For more information about Carrier products and services, visit www.carrier.com/.
Source: Carrier Corp.
CONTACT: Gia L. Oei of Carrier Corp., +1-860-284-3937
Web site: http://www.carrier.com/
