SRS Acquisition Corp., America's 14th-biggest LBM operation, announced today it acquired Superior Distribution of Piney Flats, Tenn., a one-store distributor of roofing and related exterior products serving the Tri-Cities market of Tennessee and Virginia.
Superior is the 11th facility McKinney, Texas-based SRS has added to its portfolio this year, pushing it to 41 locations operating under 11 different corporate names in 14 states. SRS in turn is a portfolio company of AEA Investors LLC.
The entire sales and management team of 14-employee Superior will remain with the company and will continue operating under the Superior name, SRS said in a news release. Owner Frank Glasscock will become a district manager for SRS and will be responsible for expanding Superior beyond its current market of Bristol, Johnson City, and Kingsport, Tenn., as well as Bristol, Va.
"They are a first-class operation that has the potential to rapidly expand into a strong regional division in a geographic area that has proved to be fairly recession-resilient," said Dan Tinker, SRS' chief operating officer. "Superior will provide an important link connecting our Northeast region to both the Midwest and Southeast regions, allowing us to accelerate the filling-in of our open geography, whicn in turn will move us closer o our goal of building the strongest network of independent roofing distributors in the United States."
Earlier this year, SRS acquired Builders Prime Window and Supply Co. of Bridgeport, Pa.; merged Builders Prime into Pace Supply Corporation, a four-unit roofing distributor based in Lansdale, Pa., that it also acquired in 2010; opened a roofing store in the Atlanta suburb of Marietta, Ga., to be called Atlanta Roofing Supply; gave the same name to its other Atlanta-area facility, Atlanta South Supply; acquired assets of H&S Building Material L.P., a distributor of roofing materials in northwest Houston; opened a Wilson Wholesale facility in Schaumburg, Ill.; opened a Southern Shingles store in Oklahoma City; and opened in Sacramento, Calif., a branch of its Oregon-based Roofling Supply stores.
SRS ranked 15th on the latest ProSales 100 list of America's biggest LBM operations, with 2009 sales of $240 million--double its 2008 sales. Since then, former No. 2 ABC Supply's takeover of former No. 4 Bradco Supply has caused SRS to move into 14th place.