Home Depot announced plans to acquire one of roofing supply’s "Big 3," saying it planned to purchase SRS Distribution in a deal worth $18.25 billion.

Details of the purchase include adding SRS' network of more than 2,500 professional sales forces in more than 760 locations to Home Depot's footprint of more than 2,000 U.S. stores and distribution centers. Home Depot said it will also assume SRS’ debt and will fund the purchase through a combination of cash on hand and debt with an expected close by the end of fiscal 2024.

“We are proud to be combining with The Home Depot to continue our growth journey with the additional resources and capabilities they will put behind us,” Dan Tinker, president and CEO of SRS, said in a statement announcing the purchase.

“We set out to find the optimal strategic outcome for the business, and we strongly believe we have achieved just that,” Tinker added. “With this combination, the future has never been brighter for our supplier partners, our Pro customers, and our team.”

The acquisition of SRS is Home Depot's most significant investment within the "pro" market and is poised to expand the big-box retailer’s total potential market by about $50 billion to roughly $1 trillion, the company said in a news release.

Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has become one of the fastest-growing building product distributors in the United States. Since its inception, SRS has established a differentiated growth strategy and entrepreneurial culture focused on serving customers, partnering with suppliers, and attracting some of the industry’s top talent. SRS Distribution currently operates under a family of distinct local brands encompassing more than 760 locations across 47 states.

SRS Distribution currently has two private equity investors: Berkshire Partners LLC, which bought its stake in 2013 and Leonard Green & Partners L.P., which added SRS to its portfolio in 2018.

“SRS’ ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture, and execution,” said Ted Decker, chair, president, and CEO of The Home Depot. “I look forward to welcoming Dan and the entire SRS team to The Home Depot and capturing the exciting opportunity ahead.”

Photo courtesy of the Iowa Economic Development Corporation

Apex Roofing & Restoration, a Birmingham, Ala.-based residential and commercial roofing contractor, named Cathy E. Hulsey, JD SPHR SCP, as its new head of Human Resources for the company.

“We are proud to welcome Cathy Hulsey to the Apex Roofing & Restoration team,” said Apex Roofing & Restoration founder and CEO Grant Rockett. “Her wealth of experience and strategic insights will undoubtedly strengthen our HR department and contribute to the overall continued success of our company.”

The company said Hulsey brings more than 30 years of extensive experience in the field with a career spanning both the public and private sectors. Her expertise includes spearheading government pay studies, such as the Pike County Commission and Sheriff’s Office review in 2021. She earned a bachelor’s degree in business administration from Jacksonville State University in Alabama and her juris doctor with honors from Birmingham School of Law.

Apex noted that Hulsey received the 2016 “Top Executive HR Innovator” award from the Birmingham Business Journal, the 2016 “SHRM SME Test Development Expert” and was named one of the “Top 15 Most Powerful and Influential Women in the State of Alabama” in 2015 by the National Diversity Center.

She maintains current certifications in Human Resources (SPHR and SHRM-SCP), is passionate about her work, and says she looks forward to bringing her expertise to Apex Roofing & Restoration.

Dallas-based IB Roof Systems hired Chris Headley as a sales representative for the company's Dallas territory, underscoring its "ongoing commitment to excellence and customer service" in the roofing sector.

The company said Headley is a Texas A&M University alum who brings more than two decades of experience in the architectural metal roofing industry to IB Roof Systems. His career began in the early aughts as a sales representative for Petersen Aluminum Corporation and subsequently rose to regional sales and technical manager, overseeing operations across most of the Lone Star State.

In 2022, he expanded his professional repertoire by founding CK Materials LLC, an independent representation company that partnered with PAC-CLAD and Citadel, providing sales and technical services.

"I am thrilled to be part of such a reputable organization," Headley said. "IB Roof Systems' commitment to delivering quality roofing solutions aligns perfectly with my passion for providing value and exceptional service to customers; I look forward to contributing to the company's success and fostering strong, lasting relationships within the industry."

Aside from his professional achievements, the company said Headley is an avid outdoorsman. Having recently retired from motorcycle road racing, he now enjoys mountain biking, hiking, and cherishing moments with his family.

"We are excited to welcome Chris to our team; his impressive background, industry knowledge, and commitment to service excellence make him a valuable addition to IB Roof Systems," said Jason Stanley, CEO of IB Roof Systems.

For more information, visit ibroof.com.

Photo courtesy of the Iowa Economic Development Corporation

Infinity Home Services announced multiple strategic acquisitions, giving the company a presence in the Canadian market and expanding its service in the highly competitive Florida market.

IHS acquired D'Angelo and Sons Roofing & Exteriors, a 45-year-old company operating in Ontario, Canada. The purchase was IHS' 13th acquisition in two years. The company said the milestone “signifies its growth trajectory and introduces the first international brand to the family of roofing and exterior brands under the Infinity Home Services umbrella.”

As brand partners, IHS says it collaborates closely, fostering operational efficiencies, amplifying market presence, and ensuring the delivery of superior services to customers — all while preserving the integrity of their brand names.

“By partnering with IHS, we will be able to provide greater future opportunities to our employees while also ensuring our family brand lives on for another 45 years,” said Aaron D’Angelo, CEO of D’Angelo and Sons, in a written statement.

IHS also acquired two Florida-based roofing companies — Carpenter’s Roofing & Sheet Metal and Altec Roofing. The partnerships mark the 16th and 17th brands to join the portfolio.

"We are excited to welcome Carpenter’s and Altec into the Infinity Home Services family. Partnering with these brands is a milestone in our strategic vision to save our communities from unscrupulous contractors,” said Sparks. “Carpenter’s and Altec boast exceptional service, a rich heritage, and an unparalleled reputation.”

Jason Lovelady, president of Carpenter’s Roofing & Sheet Metal and Altec Roofing, said uniting these brands under the Infinity Home Services umbrella is a testament to its commitment to providing top-notch roofing solutions.

“Now, as part of IHS, we're poised to bring our high standards to an even broader audience, and we look forward to achieving new heights," said Lovelady.

Greenawalt Roofing Company, a leading regional roofing, siding, and gutter services provider, announced the opening of its newest location in Cherry Hill, N.J., servicing residential and commercial customers throughout southern New Jersey, including Camden, Gloucester, Atlantic City, Salem, Burlington, and surrounding counties.

In a news release, the company said its Cherry Hill office would provide accessibility to clients within the Garden State and cater to the needs of customers around the Philadelphia region.

"We are extremely excited to bring Greenawalt Roofing's expert services to Cherry Hill," said Travis Greenawalt, president and founder of Greenawalt Roofing Company. "Our mission at Greenawalt Roofing is to achieve 100% customer satisfaction and do whatever it takes to exceed expectations."

Greenawalt Roofing said residential and commercial customers in Cherry Hill and surrounding areas will now have access to industry-leading roofing and exterior services and professional storm damage services; the company provides comprehensive storm damage reports and works with customers through the insurance claim filing process.

For more information, visit greenawaltroofing.com.

Photo courtesy of the Iowa Economic Development Corporation