SRS Acquisition signed a letter of intent to acquire the five locations of Burbank Roofing Supply in Southern California, the company announced today. It is SRS Acquisition’s second expansion announcement of the week following its opening of a new location in San Jose, Calif., under the Roofline Supply name.
The Burbank Roofing Supply transaction is structured as an asset purchase and is scheduled to close by the end of the month. The company currently operates locations under various names including in Burbank, as Burbank Roofing Supply; Hesperia, as Victor Valley Roofing Supply; Simi-Valley, as Simi Valley Roofing Supply; Riverside, as Inland Empire Roofing Supply, and Pomona, Calif., as Pomona Valley Roofing Supply. The locations will continue to operate under their autonomous names, but SRS said it will eventually bring them under one brand name.
Vic Kurten, the majority owner of Burbank Roofing Supply, will remain with the company as an advisor, as will the entire sales and management team.
“We are extremely excited to have the opportunity to enter the Los Angeles market with a platform of branches that have a long track record of success,” said Dan Tinker, COO of McKinney, Texas-based SRS Acquisition.
On Tuesday, SRS Acquisition also announced the opening of a new Roofline Supply store in San Jose, Calif., marking its first opening of 2012. That location will be led by branch manager Bob Miller and will service the greater South Bay area.
The new additions now give SRS Acquisition 70 stores in 26 states under various brand names. The company was ranked No. 13 on the 2011 ProSales 100 listing with professional sales of $343 million in 2010.