SRS Distribution, a leading distributor of residential and commercial building products in the United States, has entered into a definitive agreement with The Home Depot for acquisition at $18.25 billion.
SRS Distribution is the portfolio company of Leonard Green & Partners and Berkshire Partners.
The deal was announced through press releases by both companies. SRS operates over 760 branches across 47 states, generating more than $10 billion in annual revenue.
The acquisition reflects the growth and success of SRS, which has expanded its industry reach through strategic partnerships and employee ownership programs.
“We feel privileged to have had the opportunity to invest in and partner with SRS and its more than 11,000 employee stakeholders,” said Jonathan Seiffer, Senior Partner, Leonard Green & Partners.
“We extend a heartfelt thank you and congratulations to the entire team at SRS on their remarkable history of growth.
SRS’s legacy of success and achievement would not have been possible without the phenomenal leadership of CEO Dan Tinker and his team and Chairman Ron Ross, as well as the unique culture and operating model that they have forged at SRS.”
“Since our investment in SRS 11 years ago, we’ve enjoyed a highly collaborative and effective partnership with CEO Dan Tinker and the entire SRS management team and we’re thrilled to reach such a successful milestone in this announced sale to The Home Depot,” said Josh Lutzker, Managing Director, Berkshire Partners.
“SRS started as a small, regional player and has grown into a national platform serving multiple end markets. We’re all proud to be associated with such a great team and growth story.”
“We’re thrilled to be combining with The Home Depot, which is a direct result of the unwavering commitment and dedication from the entire team at SRS,” said Dan Tinker, President, and CEO of SRS Distribution.
“I’m so proud of our company, our strong culture, and our impressive growth story. Throughout this journey, we’ve accomplished so much for our customers, our suppliers, our community, and our employees.
I’m also grateful for the support and guidance we received from our private equity partners – Leonard Green & Partners and Berkshire Partners. Both firms take a collaborative and long-term approach to engagement and value creation, which has contributed significantly to the success of our business.”
