SRS Acquisition, a McKinney, Texas-based roofing material dealer, announced it signed a letter of intent to acquire Sierra Roofing Supply in Reno, Nev., and S&S Roofing Supply in Hoquiam, Wash., on Oct. 31. The following day, the company announced it acquired Gateway Roofing Supply in O'Fallon, Ill.
The Sierra and S&S transactions are expected to close on Nov. 11 and are structured as an asset purchase. Sierra Roofing Supply will continue to operate under its current name and marks SRS Acquisition's first location in Nevada. S&S Roofing Supply will operate under the Stoneway Roofing Supply name. Gateway Roofing Supply will also change its name to Shake & Shingle.
Sierra Roofing Supply was founded in 1963 and serves the Reno, Nev., metro area. The company's majority owner, Bob Meyer, will not stay with the company, but minority owner Gary Landaburu, as well as the employees, will remain with the company.
S&S Roofing Supply began in 1997 and serves the Washington coastal markets. Manager Tom McAffrey and his team will remain with the company.
Gateway Roofing Supply was founded in 2001 and its owner, Bill Parkin, will remain as branch manager. The company services part of the St. Louis metropolitan area.
"We are pleased to have the fine employees of both Sierra and S&S join our Western Region in the coming month," said SRS Acquisition COO Dan Tinker. "Entering Nevada and expanding in Washington allow us to expand our platform by entering two markets that we could not properly serve from our existing footprint."
Ron Ross, CEO of SRS Acquisition said the addition of Gateway will allow the dealer to service both the West and East sides of St. Louis.
SRS Acquisition is ranked No. 13 on the ProSales 100 list with $343 million in professional sales during 2010. With these acquisitions, it will operate 62 locations in 24 states under 14 different names.