SRS Acquisition Corp. announced today that it has purchased Acadian Roofing Supply, an independent roofing distribution company in Lafayette, La., and will merge it into its Southern Shingles line of stores serving Texas and Louisiana.
Acadian Roofing caters to home builders and residential and commercial roofing contractors. The company was founded in 2004 and currently operates out of the same facility as a sister company called Acadian Brick, which is a distributor of antique and manufactured brick.
SRS will keep the entire Acadian sales, management, and support team intact, but Acadian Roofing's former owners won't be involved, the company said. Current manager Ken Daigle will continue to serve in that position and report to the Southern Shingles district manager for southern Texas and Louisiana. John Mier will become the assistant manager.
"Louisiana has long been a target market for us, and like with our other smaller acquisitions we intend to use it as a platform for further regional expansion," SRS chief operating officer Dan Tinker said in a statement. "Now that offshore drilling has started back in the region and the hangover of hurricanes that hit Louisiana in 2005 and 2007 is subsiding, we look for this market to rebound nicely in the next three to five years."
With the Dec. 10 acquisition of Acadian Roofing, McKinney, Texas-based SRS, a portfolio company of AEA Investors LLC, now operates 42 locations in 16 states operating under nine different corporate names. It ranked 15th on the latest ProSales 100 list, but moved up to No. 14 after No. 2 ABC acquired No. 4 Bradco. SRS posted sales of $240 million in 2009.
Earlier this year, SRS acquired Builders Prime Window and Supply Co. of Bridgeport, Pa., and merged it into Pace Supply Corp., a roofing distributor based in Lansdale, Pa., that it also acquired in 2010. The company also opened Atlanta Roofing Supply, a roofing store in Marietta, Ga., and gave its other Atlanta-area facility, Atlanta South Supply, the same name. SRS also acquired assets of H&S Building Material L.P., a distributor of roofing materials in northwest Houston.