The Home Depot (NYSE:HD) is acquiring SRS Distribution Inc., a residential specialty trade distribution company across several verticals serving the professional roofer, landscaper and pool contractor, for $18.25 billion.
SRS employs a 2,500-plus professional sales force and operates a 760-plus branch network across 47 states, together with its 4,000-plus truck fleet and jobsite delivery capabilities.
“Our team is thrilled to join The Home Depot,” said Dan Tinker, SRS president and CEO. “We are looking forward to combining our differentiated assets and capabilities, including our extensive branch network, experienced sales team, robust trade credit offering, and order management system, geared at serving the complex project purchase occasion, with The Home Depot’s competitive advantages. We believe this will enable us to better serve pros and continue growing in our large and highly fragmented market.”
Tinker and his senior leadership team will continue to lead SRS.
“SRS is an industry leader with a proven track record of profitable growth across verticals,” said Ted Decker, chairman, president and CEO for The Home Depot. “SRS’s ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture and execution. SRS has built a robust and successful platform that will accelerate our growth with the residential professional customer while presenting future opportunities with the specialty trade pro.”
