McKinney-based SRS Distribution Inc. announced on Tuesday, Dec. 11 that it has signed a letter of intent and is performing the final stages of due diligence to acquire Gary-Hobart Roofing and Supply, the market leader in Northwest Indiana, according to a news release on the company's website.
Headquartered in McKinney, SRS is a building products distribution holding company. On its "about us" page, SRS describes itself as "a family of industry-leading independent roofing distributors that share a common goal and purpose - to focus all of our efforts on serving the professional roofing contractor."
The transaction of Gary-Hobart Roofing and Supply is structured as an asset purchase and is scheduled to close Monday, Dec. 31. Gary-Hobart is a privately-owned, one-step distributor of roofing, siding and windows that services the Northwest Indiana, South Chicago and Southwest Michigan areas. It was founded in 1949 and currently employs 28 people.
After this acquisition, SRS will operate 84 locations in 28 states under 19 different brands.
Click here to read the complete news release.
Visit SRS at srsicorp.com.