Roofing and building products distributor SRS Distribution announced the formation of subsidiary group Heritage Landscape Supply Group, according to a news release. The newly formed subsidiary group also announced the acquisition of CPS Distributors and Automatic Supply.
SPS Distributors is a distributor of irrigation and landscape supplies based in Westminster, Co., and Automatic Supply is a distributor of landscaping, irrigation, outdoor lighting, and related products based in Fishers, Ind.
The terms of the deal were not disclosed by SRS, but the McKinney, Texas-based distributor said management will remain in place at both CPS Distributors and Automatic Supply.
According to the news release, SRS formed Heritage to acquire CPS Distributors, Automatic Supply, and additional independent irrigation and landscape supply businesses. The subsidiary group plans to grow by creating a national network of independent distributors. SRS said the strategy for heritage includes maintaining the local brand identity and management of the locations it acquires.
Matt McDermott, who previously held the positon of vice president of corporate strategy for SRS, has been appointed to the position of president of Heritage Landscape Supply Group. SRS—a portfolio company of Leonard Green & Partners and Berkshire Partners—has over 250 locations across 43 states, operating under 24 distinct brands. The distributor ranked 9th on the most recent ProSales 100.