SRS Distribution Sold to The Home Depot for $18.25 Billion

Los Angeles-based Leonard Green & Partners and Berkshire Partners have announced the closing of the sale of SRS Distribution Inc. (SRS), a leading distributor of residential and commercial building products in the United States, to The Home Depot for $18.25 billion.

“We are extremely proud of our work with SRS and are honored to have been part of this chapter in the organization’s incredible expansion,” said Jonathan Seiffer, senior partner, Leonard Green & Partners. “We appreciate the relentless dedication of CEO Dan Tinker and the SRS team, and we look forward to the continued success of SRS as it joins The Home Depot family.”

“During Berkshire’s 11 years as an investor in SRS, the company honed its unique culture to attract, develop and retain top-tier talent within the industry,” said Josh Lutzker, managing director, Berkshire Partners. “Our partnership with CEO Dan Tinker and the entire SRS leadership team was very rewarding as we worked together to scale the business into one of the leading distributors of building products in the United States.”

Berkshire Partners invested in SRS in 2013 and sold a majority stake in the business to Leonard Green & Partners in 2018. Both firms played a key role in supporting the growth of SRS, including entering multiple new trade verticals and the expansion of SRS branches across the country.

Since the company’s inception, SRS has prioritized broad-based equity incentives and ownership to create meaningful financial opportunities for its employees. These initiatives had the full support of Leonard Green & Partners and Berkshire Partners, who are both members of Ownership Works, a nonprofit organization that partners with companies and investors to provide all employees with the opportunity to build wealth through their careers.