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The DAK Group Announces Sale of N&S Supply to America’s Largest HVAC/R Distributor

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.

DAK Group sells N&S SupplyThe 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.

About The DAK Group (www.dakgroup.com)

The DAK Group is a leading investment bank serving mid-market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations and fairness opinions. Since 1984, The DAK Group has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. The DAK Group is headquartered in Rochelle Park, NJ with an office in Philadelphia.

About N&S Supply (www.nssupply.com)

Founded in 1946, N&S Supply operates seven locations in the Hudson Valley of New York and Connecticut. The Company serves over 10,000 customers with approximately 40,000 SKUs, including air conditioning and heating equipment, hydronic heating equipment, complimentary parts and supplies and a variety of plumbing products.

About Watsco Inc. (www.watsco.com)

Watsco is the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in the United States, Canada, Mexico and Puerto Rico, and on an export basis to Latin America and the Caribbean. Watsco estimates that over 300,000 contractors and technicians visit or call one of its 610 locations each year to get information, obtain technical support and buy products.

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