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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2021
SUBSEQUENT EVENTS
10.
SUBSEQUENT EVENT
On April 9, 2021, we acquired certain assets and assumed certain liabilities comprising the HVAC distribution business of Temperature Equipment Corporation, an HVAC distributor operating from
32
 
locations in Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri and Wisconsin. We formed a new, stand-alone joint venture with Carrier, TEC Distribution LLC (“TEC”), that will operate this business. We have an
 
80
%
controlling interest in TEC and Carrier has a
 
20
%
 
non-controlling interest. Consideration for the purchase was paid in cash, consisting of 
$
105,200
paid to Temperature Equipment Corporation (Carrier contributed
$
21,040
and we contributed $
84,160
) and $
1,497
for repayment of indebtedness
.