Early Life
Albert Nahmad was born in Panama. He pursued education in the United States, studying engineering at the University of New Mexico and Purdue University. His early career involved consulting and working for W.R. Grace & Co., where he gained experience in business and acquisitions.
Rise to Success
In 1973, Nahmad bought a controlling interest in Watsco, a small publicly traded company. Under his leadership, Watsco adopted an acquisitive strategy, growing from a market capitalization of $22 million in 1989 to over $19.5 billion at the end of 2024. He fostered strategic business relationships and created an entrepreneurial culture within the company. Watsco now serves more than 125,000 contractor customers through 690 locations.
Key Business Strategies
Nahmad's key strategy was decentralization, empowering the individual businesses and entrepreneurs within Watsco. He focused on long-term growth, acquisitions, and building strong vendor relationships. His strategic focus shifted from manufacturing to distribution, which proved to be a successful move.
Philanthropy
Albert Nahmad is involved in a number of charitable organizations in South Florida. He was named Chair of the Board of Directors at Miami Cancer Institute. His daughter is President of the Nahmad Family Foundation.
