Daikin acquires U.S.-based wholesale distributor
The manufacturer of heating and cooling systems aims to become North American leader in indoor comfort solutions.
mergers & acquisitions
Daikin North America LLC, a subsidiary of Japan-based Daikin Industries, Ltd., has announced the acquisition of Stevens Equipment Supply, an HVAC and food services industry equipment, accessories and parts wholesale distributor headquartered in Minnesota with 18 branches serving Minnesota, Wisconsin, North Dakota, South Dakota, Montana, Iowa, Missouri, Nebraska, New Mexico, Colorado, Arizona, Utah and Nevada.
“Our vision for Daikin is to become North America’s number one indoor comfort solutions provider,” said Takayuki “Taka” Inoue, executive vice president and president, Daikin Business Unit, in a company release. “We believe the purchase of Stevens is a significant milestone for Daikin in our continued effort to achieve our North American vision. At Daikin, we will continue to grow our North American business through organic growth and acquisitions that fit our strategic objectives.”
Stevens will operate as a wholly-owned business unit of Daikin, while maintaining its current name, and the Stevens management team will continue to operate from its office in Minnesota.
“Stevens has enjoyed a great, long-standing distribution relationship with Daikin with the intention of further expanding our distribution into additional states in the Southwestern U.S.,” noted Dan Beno, president at Stevens.
“Since teaming with Stevens, they have propelled our sales volume by adding many new, highly-valued Daikin Comfort Pro dealers in existing and new regions,” said Doug Widenmann, senior vice president North America DBU sales and distribution at Daikin.
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October 25, 2021