Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Watsco has added another major transaction to its consolidation strategy, agreeing to acquire The Granite Group, a plumbing and HVAC distributor generating roughly $500 million in annual sales across seven Northeastern states.</li><li>Announced on September 14, 2026, the transaction would add 82 locations, approximately 11,000 customers, around 29,000 SKUs, and relationships with more than 450 vendors to Watsco’s distribution network.</li><li>Granite is expected to continue operating independently under CEO Bill Condron, consistent with Watsco’s decentralized acquisition model, while gaining access to the parent company’s capital, technology, supplier relationships, and distribution scale.</li></ul>

Watsco has added another major transaction to its consolidation strategy, agreeing to acquire The Granite Group, a plumbing and HVAC distributor generating roughly $500 million in annual sales across seven Northeastern states.Announced on September 14, 2026, the transaction would add 82 locations, approximately 11,000 customers, around 29,000 SKUs, and relationships with more than 450 vendors to Watsco’s distribution network.Granite is expected to continue operating independently under CEO Bill Condron, consistent with Watsco’s decentralized acquisition model, while gaining access to the parent company’s capital, technology, supplier relationships, and distribution scale.

Watsco’s Granite Group Takeover Could Reshape Its Growth Engine!

Watsco Inc

Watsco’s Granite Group Takeover Could Reshape Its Growth Engine!