SRS Acquisition Corporation expands its footprint with the acquisition of River City Wholesale in Louisville, Kentucky
SRS Acquisition Corporation ("SRS" or "the Company") announced today that it has completed its acquisition of SIBCO of Greater Louisville, Inc., known as River City Wholesale ("River City"), a leading independent distributor of residential roofing, vinyl siding, windows and gutter products in the Louisville, Kentucky market. River City Wholesale, a privately owned company with 14 employees, was founded in 2008 and currently operates one location in Louisville, Kentucky.
River City Wholesale has developed a strong reputation for superior customer service and SRS intends to immediately build on this platform for growth in the central Kentucky market. River City currently services roofing contractors, siding contractors, window installers, home builders and gutter installers within a 100 mile radius of the location.
The transaction is structured as an asset purchase. The General Manager of River City, Rick Kelley, will continue to serve as the Branch Manager for this new SRS location, which will ensure continuity and consistency for the customers, employees and suppliers of River City.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, stated, "We are thrilled to have the opportunity to welcome back a team of hard working people that we consider friends that have decades of customer relationships in this market. We plan to invest heavily in the Kentucky and surrounding markets in the future and will continue to build a national network of branches through greenfields and acquisitions that provide a home for the best managers and sales professionals in our industry to make money and have fun."
Rick Kelley, General Manager of River City Wholesale, commented, "We are happy to be reunited with the leaders of SRS and are excited about the growth opportunities that lie ahead as we combine the resources of both companies. Everything we do operationally is centered on serving the customer and we feel that SRS provides the only national partner we could have joined that allows their branches the freedom to continue to be reactive to daily market situations and customer needs. We also joined SRS because they understand in this industry - great employees create competitive advantage, not following a cookie-cutter model."
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that currently operates 24 locations in Florida, Georgia, South Carolina, Texas, Kentucky, 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), River City Wholesale (KY), Shake & Shingle Supply (CO) and Stoneway Roofing Supply (WA/OR). SRS is a portfolio company of AEA Investors, LLC.
