Continuing its torrid acquisition pace, SRS Acquisition Corp. (SRS) of McKinney, Texas, has acquired SIBCO, known as River City Wholesale, which operates in the Louisville, Ky., market.
River City operates one location with 14 employees and distributes residential roofing, vinyl siding, windows and gutter products. In a statement issued by SRS, the company said it intends to use River City as a platform for expanding in the central Kentucky market: River City already serves pros within a 100-mile radius of the location.
Although terms of the deal were not disclosed, SRS said the transaction was structured as an asset purchase. General Manager Rick Kelley will continue to serve as branch manager.
"We plan to invest heavily in the Kentucky and surrounding markets in thefuture and will continue to build a national network of branches through greenfields and acquisitions that provide a home for the best managers and sales professionals in our industry to make money and have fun," Ron Ross, CEO of SRS, said in a statement issued Aug. 14.
In the past two weeks, SRS has added Shake & Shingle Co., an independent distributor serving the new and re-roofing residential and commercial markets in the Denver area, and Atlanta South Supply Inc., an independent residential and commercial roofing distributor in the Atlanta metro market.
SRS ranked 29th on the 2009 ProSales 100 with total sales of $120 million in 2008.
SRS operates 24 locations in Florida, Georgia, South Carolina, Texas, Kentucky, Illinois, Colorado, Washington and Oregon under the names: Suncoast Roofers Supply, Southern Shingles, Rowe Supply Shake & Shingle Supply, Wilson Wholesale, Shake & Shingle Supply (Ga.), and Stoneway Roofing Supply.