Stevens Equipment Supply Company Profile

Background

Founded in 1960 by Don Stevens, Stevens Equipment Supply is a wholesale distributor specializing in equipment, parts, and supplies for the residential and light commercial heating, air conditioning, and hospitality industries. Headquartered in Eagan, Minnesota, the company operates 15 branches across Arizona, Colorado, Minnesota, Nevada, New Mexico, North Dakota, South Dakota, Utah, and Wisconsin.

The company's mission is to deliver hassle-free, customer-first solutions by providing best-in-class product value, dependable delivery, creative solutions, targeted training, and energetic service before and after the sale. Stevens Equipment Supply emphasizes values such as honesty and integrity, caring, accountability, teamwork built on mutual trust, respect, cooperation, fun, humility, and safety.

Key Strategic Focus

Stevens Equipment Supply focuses on distributing high-quality HVAC and foodservice equipment, parts, and accessories. The company partners with top manufacturers, including Daikin, Goodman/Amana, Clean Comfort, and Sterling, to offer a comprehensive product portfolio. By maintaining a robust distribution network, Stevens ensures timely delivery and support to contractors and dealers across its operational regions.

Financials and Funding

In November 2020, Daikin North America LLC, a subsidiary of Daikin Industries, Ltd., acquired Stevens Equipment Supply. This acquisition aimed to support Stevens' growth by expanding its contractor customer base, hiring new talent, adding business technology, and opening new strategic opportunities. Under Daikin's ownership, Stevens continues to operate as a wholly-owned business unit, maintaining its established brand recognition and leadership team.

Leadership Team

The leadership team at Stevens Equipment Supply includes:

Dan Beno, President

Dave DeSutter, Senior Executive Advisor

Both leaders have been instrumental in guiding the company through its growth and integration with Daikin.

Competitor Profile

Market Insights and Dynamics

The HVAC distribution industry is characterized by a competitive landscape with several key players offering a range of products and services. Market dynamics are influenced by factors such as technological advancements, regulatory changes, and evolving customer preferences.

Competitor Analysis

One of the primary competitors in the HVAC distribution sector is Ferguson Enterprises Inc. Headquartered in Newport News, Virginia, Ferguson is the largest U.S. distributor of plumbing, heating, ventilation, and air conditioning (HVAC) products. The company operates from 11 regional distribution centers and approximately 1,773 branches, serving a broad customer base.

Strategic Collaborations and Partnerships

Stevens Equipment Supply has established significant partnerships with leading manufacturers to enhance its product offerings and market reach. Notably, the company has a longstanding relationship with Daikin, the world's largest HVAC manufacturer. This partnership was further solidified through Daikin's acquisition of Stevens in 2020, enabling the company to promote a full line of Daikin products, including ductless, residential unitary, and light commercial HVAC systems.

Operational Insights

Under Daikin's ownership, Stevens Equipment Supply has continued to operate as a wholly-owned business unit, maintaining its established brand recognition and leadership team. The company manages sales and distribution across 18 branch locations, serving states including Minnesota, Wisconsin, North Dakota, South Dakota, Montana, Iowa, Missouri, Nebraska, New Mexico, Colorado, Arizona, Utah, and Nevada.

Strategic Opportunities and Future Directions

With the backing of Daikin, Stevens Equipment Supply is well-positioned to pursue strategic opportunities for expansion and growth. The company aims to enhance its contractor customer base, invest in new talent, adopt advanced business technologies, and expand its product lines. These initiatives are designed to strengthen Stevens' market position and drive future success in the HVAC distribution industry.