CSW INDUSTRIALS Business Summary

CSW Industrials, Inc. (CSW) is a diversified industrial growth company that generates revenue through the manufacturing and sale of high-performance, niche products across three primary segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment is the company’s largest revenue driver, focusing on HVAC/R and plumbing components such as condensate management tools, chemicals, and air handlers, largely serving the resilient residential and commercial aftermarket. Following a significant $1 billion acquisition spree through early 2026—including the landmark $650 million purchase of MARS Parts—the company has solidified its position as a dominant provider of essential components for the built environment. CSW competes directly with industrial peers such as Resideo Technologies, Inc., Trex Company, Inc., and Mueller Industries, Inc., distinguishing itself through a high-margin, asset-light model that prioritizes proprietary, brand-name products over commoditized equipment. Leadership is led by Joseph B. Armes, who has served as Chairman, CEO, and President since the company’s 2015 spin-off from Capital Southwest Corporation; his background includes extensive M&A and private equity experience at Hicks Holdings and as a former attorney at Weil, Gotshal & Manges. He is supported by Executive Vice President and CFO James E. Perry, who previously served as CFO of Trinity Industries, and Donal J. Sullivan, EVP and Chief Strategy Officer, who brings deep HVAC industry expertise from leadership roles at Carrier and Goodman Global. The company’s board of directors features high-profile members such as Dr. Linda A. Livingstone (President of Baylor University) and Michael R. Gambrell (former EVP of Dow Chemical). CSW maintains a strong institutional investor base, with BlackRock, Inc. and The Vanguard Group holding the largest equity stakes as of early 2026.