Private equity firm buying SRS Distribution
Leonard Green and Partners LP, a Los Angeles-based private equity firm, has signed an agreement to purchase SRS Distribution, according to a report by Reuters.
In an estimated $3 billion deal that has yet to be officially announced, Leonard Green and Partners is buying SRS from its owner, Boston-based Berkshire Partners. The deal would also include the assumption of debt with Berkshire maintaining an interest in the company.
Based in McKinney, Texas, SRS operates 216 roofing and building products distribution outlets in 41 states.
The company had sales of more than $2.3 billion in 2017 and has been on an acquisition and expansion spree in recent months with new locations in California, Colorado, Michigan, Ohio, and Texas.
Reports say the deal will close by June of this year.
In an estimated $3 billion deal that has yet to be officially announced, Leonard Green and Partners is buying SRS from its owner, Boston-based Berkshire Partners. The deal would also include the assumption of debt with Berkshire maintaining an interest in the company.
Based in McKinney, Texas, SRS operates 216 roofing and building products distribution outlets in 41 states.
The company had sales of more than $2.3 billion in 2017 and has been on an acquisition and expansion spree in recent months with new locations in California, Colorado, Michigan, Ohio, and Texas.
Reports say the deal will close by June of this year.