While a number of industry bigwigs have receded in size in recent months, SRS Acquisition Corp. continues to flex its muscles. The McKinney, Texas-based building products distribution holding company has completed its acquisition of Atlanta South Supply Inc., an independent residential and commercial roofing distributor serving the Atlanta metro market.
Atlanta South Supply was a privately owned company with nine employees and one location in Fayetteville, Ga. John Penn, president of the company, will transition to a consulting role while branch manager Chuck Betsill will remain branch manager, SRS said in a July 31 announcement.
Although the cost of the acquisition was not disclosed by SRS, the company said it plans use the move as a springboard "to immediately build on this platform for growth in the central Georgia market."
"Strategically, this provides SRS entry into one of the most dynamic roofing markets in the country and will enjoy the benefit of the close proximity to our existing Suncoast and Rowe Supply locations in the Southeast," Ron Ross, CEO of SRS, said in a prepared statement.
Last month, SRS opened a new Rowe Supply location in Ridgeland, S.C., which also serves the Hilton Head market. The company maintains another Rowe Supply branch in Savannah, Ga. SRS acquired Rowe Supply last September.
SRS ranked 29th on the latest ProSales 100 with total sales of $120 million in 2008.
The company now operates 22 locations in Florida, Georgia, South Carolina, Texas, Illinois, Washington, and Oregon under the banners of Suncoast Roofers Supply, Southern Shingles, Rowe Supply, Atlanta South Supply, Wilson Wholesale, and Stoneway Roofing Supply.