Home Depot Acquires SRS Distribution in $18B Deal
Home Depot has announced the acquisition of SRS Distribution, a building products supplier, for $18.25 billion, including debt, making it the company’s largest acquisition ever.
The home improvement behemoth said the transaction will accelerate its growth with its professional client base and raise its total addressable market to almost $1 trillion, an increase of about $50 billion.
“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,” said SRS chair, president and CEO, Ted Decker.
McKinney, TX-based SRS is a portfolio company of private equity firms Leonard Green & Partners and Berkshire Partners. The company distributes materials to contractors in the landscaping, pool, and roofing industries. The company employs over 2,500 individuals and operates a network of up to 760 branches in 47 states and a 4,000-truck fleet.
SRS said it will function as an autonomous subsidiary within Home Depot, and its executive team will continue with the company.