Daikin buys US distributor Stevens3rd November 2020
USA: Daikin North America, the US subsidiary of the Japanese air conditioning manufacturer, has purchased its long-standing US distributor Stevens Equipment Supply.
Founded by Don Stevens in 1960, Stevens Equipment Supply is described as a wholesale distributor of equipment, parts, and supplies to diverse industries including residential and light commercial heating and air conditioning, commercial food service, hospitality and refrigeration.
Based in Eagan, Minnesota, it operates 19 branches in the states of Arizona, Colorado, Iowa, Minnesota, Missouri, Nebraska, North Dakota, New Mexico, Utah, Nevada, Montana, and Wisconsin.
Stevens will continue to promote the full line of Daikin ductless, residential unitary and light commercial HVAC products, as well as controls, air quality, parts, and accessories throughout their distribution network. Daikin says that Stevens will also continue distribution and sales of other Daikin brands including Goodman, Amana, and Quietflex brands, as well as Stevens’ existing commercial food service equipment at select locations.
“We believe the purchase of Stevens is a significant milestone for Daikin in our continued effort to achieve our North American vision,” said Takayuki “Taka” Inoue, Daikin’s executive vice president and president. “We will continue to grow our North American business through organic growth and acquisitions that fit our strategic objectives.”
Under the new ownership of Daikin, Stevens will operate as a wholly-owned business unit of Daikin, while maintaining their current name. The current management, led by senior executive advisor Dave DeSutter.
“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 US,” added Stevens president Dan Beno.