SRS Acquisition Corporation Announces another Strategic Acquisition in the Philadelphia market by acquiring Builders Prime Window & Supply Company, Inc.
SRS Acquisition Corporation (“SRS” or “the Company”) announced today that it has closed on the acquisition of Builders Prime Window and Supply Company, Inc. (“Builders Prime”), a distributor of roofing, siding and windows. The transaction was structured as an asset purchase and closed on Friday, August 13th. Builders Prime, a privately-owned company with headquarters in Bridgeport, Pennsylvania, was founded in 1962 and currently employs 14 people. Builders Prime operates one location in the Philadelphia metro market and caters to builders, roofing contractors and remodeling contractors and has almost no customer overlap to our existing four Pace locations.
Builders Prime’s entire sales and management team will be staying with the company and the business will eventually migrate to operate under the Pace Supply name to ensure continuity for customers, employees and suppliers in the Philadelphia market. The owner will retain his other two business interests; one in Masonry supply and the other an installed sales business that was formerly part of Builders Prime that will not be acquired by SRS as part of the transaction.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, commented, "We look forward to the combination of the very talented sales and management team at Builders Prime with our talented Pace team to rapidly expand our market share in this important metro market. Builders Prime allows us to fill in a hole in our local area geography and also provides us with greater diversity with their strength in the new construction segment. We plan to focus on roofing and windows in this new location, but the branch will have access to all of the products that Pace currently offers in their other four branches immediately.”
Russell Lyons, Builders Prime Supply’s owner, stated, "This is a great day for the customers and employees of Builders Prime. I am confident that the combination of Builders Prime and Pace will create a very formidable group in the Philadelphia market going forward. As an owner, you always want what’s best for your people, and I feel very good that selling Builders Prime to SRS accomplishes just that. SRS brings the resources, capital, and the industry contacts and supplier relationships that can take Builders Prime to the next level.”
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that with this new location will operate 40 locations in 13 states under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX/OK), Rowe Supply (GA/SC), Atlanta Roofing Supply (GA), Wilson Wholesale (IL/MN), River City Wholesale (KY), Shake & Shingle Supply (CO), Roofline Supply (OR/CA), Stoneway Roofing Supply (WA) and Pace Supply (PA). SRS is a portfolio company of AEA Investors, LLC.
Builders Prime’s entire sales and management team will be staying with the company and the business will eventually migrate to operate under the Pace Supply name to ensure continuity for customers, employees and suppliers in the Philadelphia market. The owner will retain his other two business interests; one in Masonry supply and the other an installed sales business that was formerly part of Builders Prime that will not be acquired by SRS as part of the transaction.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, commented, "We look forward to the combination of the very talented sales and management team at Builders Prime with our talented Pace team to rapidly expand our market share in this important metro market. Builders Prime allows us to fill in a hole in our local area geography and also provides us with greater diversity with their strength in the new construction segment. We plan to focus on roofing and windows in this new location, but the branch will have access to all of the products that Pace currently offers in their other four branches immediately.”
Russell Lyons, Builders Prime Supply’s owner, stated, "This is a great day for the customers and employees of Builders Prime. I am confident that the combination of Builders Prime and Pace will create a very formidable group in the Philadelphia market going forward. As an owner, you always want what’s best for your people, and I feel very good that selling Builders Prime to SRS accomplishes just that. SRS brings the resources, capital, and the industry contacts and supplier relationships that can take Builders Prime to the next level.”
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that with this new location will operate 40 locations in 13 states under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX/OK), Rowe Supply (GA/SC), Atlanta Roofing Supply (GA), Wilson Wholesale (IL/MN), River City Wholesale (KY), Shake & Shingle Supply (CO), Roofline Supply (OR/CA), Stoneway Roofing Supply (WA) and Pace Supply (PA). SRS is a portfolio company of AEA Investors, LLC.
