July 2013SRS Distribution Announces the Upcoming Acquisition of Heritage Wholesalers in Boston, MA
McKinney, Texas, July 29, 2013 — SRS Distribution (“SRS” or “the Company”) announced today that it has signed an asset purchase agreement to close on the acquisition of Heritage Wholesalers, Inc. Heritage is a five branch family owned regional distributor with locations in Malden, Dartmouth, Worcester, and Braintree, Massachusetts in addition to one location in Hudson, New Hampshire. The transaction is scheduled to close on August 2nd. Heritage is a 1-step independent distributor of residential and commercial roofing materials, vinyl siding and windows, and other building products servicing professional contractors throughout New England. It was founded in 1970 and currently employs a team of 60 people.
Steve Field, the former President, will be staying with the company in a new regional business development role assisting Paul Whelan with new branches and sourcing acquisitions in the Northeast. John Malo, the former CEO/CFO will be transitioning into a regional controller role for the Northeast. The entire sales and operation teams in all branches will be retained to run the branches going forward. SRS will continue to operate these branches under the Heritage name and will also immediately transition the operating name of the existing Hartford, Connecticut branch to Heritage from Pace Supply.
Dan Tinker, Chief Operating Officer of SRS Distribution, commented, "Heritage Wholesalers is a company we have followed and admired for some time and we could not be any happier about welcoming them and their hard working employees to the SRS family. Heritage will be an integral part of our company’s growth plans serving as a new regional platform for our continued expansion in New England.”
Steve Field, President of Heritage, added, “I am extremely happy to be joining the SRS family of independent distributors. This acquisition affords us a wonderful and unique opportunity to not only strengthen and expand our position in the marketplace, but also to preserve our Heritage identity as well as our customer service oriented and employee centered culture. For us, it's truly the best of both worlds.”
Headquartered in McKinney, TX, SRS is a building products distribution holding company that with the addition of this new location will operate 98 locations in 33 states under the names: Suncoast Roofers (FL), Southern Shingles (TX/OK/LA/AR), SRS Roofing Supply (AL, MS), Rowe Supply (GA/SC), Atlanta Roofing (GA), Cannon Supply (SC), Columbia Wholesale (SC), Midwest Roofing Supply (IL/MN), Gary-Hobart Roofing Supply (IN), River City Wholesale (KY), Superior Distribution (TN/MD/VA/NC), Shake & Shingle Supply (CO/KS/MO/IL), Stewart Building & Roofing (AZ), Roofline Supply (OR/CA/UT), Stoneway Roofing Supply (WA), Pace Supply (PA/NJ), Heritage Wholesalers (MA/NH/CT), Burbank Roofing Supply Group (CA), ABCO Supply (MI) and Sierra Roofing Supply(NV). SRS is a portfolio company of Berkshire Partners LLC.
Source: SRS Distribution
Title: SRS Distribution Announces the Upcoming Acquisition of Heritage Wholesalers in Boston, MA
Date Published: July 29, 2013
Date Accessed: October 2, 2013