M&A Deal Summary

The Home Depot Acquires SRS Distribution

On March 28, 2024, The Home Depot acquired distribution company SRS Distribution from Leonard Green & Partners for 18.3B USD

Acquisition Highlights
  • This is The Home Depot’s 9th transaction in the Distribution sector.
  • This is The Home Depot’s largest (disclosed) transaction.
  • This is The Home Depot’s 18th transaction in the United States.
  • This is The Home Depot’s 5th transaction in Texas.

M&A Deal Summary

Date 2024-03-28
Target SRS Distribution
Sector Distribution
Buyer(s) The Home Depot
Sellers(s) Leonard Green & Partners
Deal Type Add-on Acquisition
Deal Value 18.3B USD

Target

SRS Distribution

McKinney, Texas, United States
SRS Distribution is a distributor of residential roofing materials and supplies in the U.S. SRS has over 160 branches in more than 40 states serving a diverse group of roofing contractors, home builders, and retailers. SRS Distribution was founded in 2008 and is based in McKinney, Texas.

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Buyer(S) 1

Buyer

The Home Depot

Atlanta, Georgia, United States

Category Company
Founded 1978
Sector Retail
Employees475,000
Revenue 157.4B USD (2023)
DESCRIPTION
Entrance to Home Depot's corporate headquarters in Atlanta, Georgia.
Entrance to Home Depot's corporate headquarters in Atlanta, Georgia.

The Home Depot is a home improvement retailer. Home Depot operates more than 2,000 stores and home improvement centers across North America. The Home Depot was founded in 1978 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 18 of 18
Sector (Distribution) 9 of 9
Type (Add-on Acquisition) 16 of 16
State (Texas) 5 of 5
Country (United States) 18 of 18
Year (2024) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-20 International Designs Group

Decatur, Georgia, United States

International Designs Group (IDG) is a provider of top-quality slab and tile materials for the kitchen and bath industry. IDG offers exclusive brands like Pompeii Quartz and Forum Quartz, as well as its tile label, CTC (Cancos). In addition to slab and tile distribution, IDG has showrooms in several eastern U.S. states, including Alabama, Georgia, South Carolina, Florida and New York. These showrooms highlight and sell the company’s distinctive slab and tile products, and also provide a range of complementary specialty products for the kitchen and bath. International Designs Group is based in Decatur, Georgia.

Buy -

Seller(S) 1

SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 53 of 54
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 9 of 10
State (Texas) 8 of 9
Country (United States) 50 of 51
Year (2024) 1 of 2
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-23 IRIS

Slough, United Kingdom

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.

Buy £3.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-02 DuraServ

Carrollton, Texas, United States

DuraServ is a provider of commercial and industrial overhead door and loading dock equipment maintenance, repair and install services. DuraServ was founded in 2001 and is based in Carrollton, Texas.

Buy -