SRS Acquisition Corporation Announces expansion into the Denver, Colorado market with the Acquisition of Shake & Shingle Supply, Inc.
SRS Acquisition Corporation ("SRS" or "the Company") announced today that it has completed its acquisition of Shake & Shingle Supply ("Shake & Shingle"), an independent distributor of residential and commercial roofing products in the Denver, Colorado metro market. Shake & Shingle Supply, a privately owned company with 7 employees, was founded in 1977 and currently operates two locations in Denver, Colorado and in Coppell, Texas. The Coppell, Texas location is not part of this transaction.
Shake & Shingle Supply has developed a reputation for sourcing wood roofing products and providing excellent customer service. SRS intends to immediately expand on this platform for growth by expanding the inventory, doubling the size of the fleet and expanding the workforce. Shake & Shingle currently services both the new construction and re-roof segments of the residential and commercial roofing market in Denver.
The transaction is structured as an asset purchase. The owners of Shake & Shingle, Robert & Kathy Ingle, will continue to operate the Coppell, Texas location which is not being acquired by SRS. Dennis von Thun will continue to serve as the Branch Manager for the new SRS location in Denver, which will ensure continuity and consistency for the customers, employees and suppliers of Shake & Shingle. The Denver operation will retain the Shake & Shingle Supply name and will fall under the responsibility of Greg Robinson.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, stated, "We are excited to gain entry into the Mountain states through the strategic acquisition of Shake & Shingle Supply. This is a very attractive market long-term that we plan to develop aggressively. Shake & Shingle Supply is a company with similar values to ours, with a focus squarely on the customer and we plan to invest in this operation immediately to scale it up."
Robert Ingle, President and owner of Shake & Shingle Supply, commented, "All of our employees are excited to be joining the prominent family of SRS companies. SRS brings the significant investment capital, industry strength and expertise to expand the operation to heights we could not achieve as a smaller independent. More importantly, we feel that SRS was the best home for our employees and customers in the coming years. They allow the acquired companies to remain somewhat autonomous and keep the entrepreneurial spirit that is critical in the relationship business we are in."
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that currently operates 23 locations in Florida, Georgia, South Carolina, Texas, Illinois, Colorado, Washington and Oregon under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX), Rowe Supply (GA/SC), Atlanta South Supply (GA), Wilson Wholesale (IL), Shake & Shingle Supply (CO) and Stoneway Roofing Supply (WA/OR). SRS is a portfolio company of AEA Investors, LLC.
