LOS ANGELES & BOSTON, March 29 (Bernama-BUSINESS WIRE) -- The portfolio company of Leonard Green & Partners and Berkshire Partners, SRS Distribution (“SRS”), has entered into a definitive agreement with The Home Depot to be acquired for $18.25 billion. The details of this sale were made public in press releases issued this morning by The Home Depot and SRS. SRS is a leading distributor of residential and commercial building products in the United States, with more than 760 branches across 47 states. The Home Depot is the world’s largest home improvement retailer.
“We feel privileged to have had the opportunity to invest in and partner with SRS and its more than 11,000 employee stakeholders,” said Jonathan Seiffer, Senior Partner, Leonard Green & Partners. “We extend a heartfelt thank you and congratulations to the entire team at SRS on their remarkable history of growth. SRS’s legacy of success and achievement would not have been possible without the phenomenal leadership of CEO Dan Tinker and his team and Chairman Ron Ross, as well as the unique culture and operating model that they have forged at SRS.”“Since our investment in SRS 11 years ago, we’ve enjoyed a highly collaborative and effective partnership with CEO Dan Tinker and the entire SRS management team and we’re thrilled to reach such a successful milestone in this announced sale to The Home Depot,” said Josh Lutzker, Managing Director, Berkshire Partners. “SRS started as a small, regional player and has grown into a national platform serving multiple end markets. We’re all proud to be associated with such a great team and growth story.”
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