July 11, 2007—Carrier Corp. has signed a letter of intent to acquire E.B. Ward & Company / Valair, a long-standing Carrier distributor of commercial, light commercial, and residential products. The purchase price is not being disclosed.
Carrier, a unit of United Technologies Corp., is the largest distributor in North America, with approximately 200 locations in more than 20 states and Canada, according to the company. E.B. Ward and Valair serve Carrier customers in Northern California and parts of Nevada with 140 employees and combined sales of approximately $150 million.
According to Carrier, the acquisition will strengthen its rapidly expanding sales and distribution network in California, enabling Carrier to serve its customers directly in the large and strategically important market.
Carrier Corp., headquartered in Farmington , Connecticut, is a leading 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 , provider of a broad range of high-technology products and support services to the aerospace and building systems industries worldwide.
For more information visit the Carrier Web site.
