SRS Distribution plans to acquire independently-owned Gannon Roofing Supply. The Des Moines, Iowa-based company distributes residential and commercial roofing products and accessories. Terms of the deal were not publicly disclosed.
Gannon Roofing Supply operates a network of three branches across Iowa, servicing professional contractors, builders, home improvement contractors, and remodelers. Dan Frankl, Dan Gannon, and Chad Thomas, the senior management team at Gannon Roofing Supply, will continue to lead their employees after the closure of the deal to ensure continuity and consistency for customers and supplier partners. Frankl said leveraging the resources of SRS can help the company embark on its next phase of growth.
“We could not be more proud to welcome the outstanding employees at Gannon Roofing Supply to the SRS family,” SRS president and CEO Dan Tinker said in a public statement. “We have known the Gannon family for nearly 25 years and have nothing but the utmost respect for the business they have built. GRS is one of the finest independent distributors in the country and we are honored to be joining forces as we continue to expand our presence in the Midwest.”
McKinney, Texas-based SRS Distribution is a portfolio company of Leonard Green & Partners and Berkshire Partners. The acquisition of Gannon Roofing Supply continues a busy start to 2020 for SRS. In January, the distributor opened three greenfield locations in Mississippi, Alabama, and North Carolina. SRS operates a family of distinct local brands encompassing more than 350 locations across 44 states. The company ranked 7th on the 2019 ProSales 100 list.
