SRS Acquisition Corporation Announces expansion into the Atlanta, Georgia market with the Acquisition of Atlanta South Supply, Inc.
SRS Acquisition Corporation ("SRS" or "the Company") announced today that it has completed its acquisition of Atlanta South Supply, Inc., ("Atlanta South"), a leading independent distributor of residential and commercial roofing in the Atlanta, Georgia metro market. Atlanta South Supply, a privately owned company with 9 employees, was founded in 1992 and currently operates one location in Fayetteville, Georgia.
Atlanta South Supply has developed a strong reputation for superior customer service and SRS intends to immediately build on this platform for growth in the central Georgia market. Atlanta South currently services both the new construction and re-roof segments of the residential and commercial roofing market in Atlanta.
The transaction is structured as an asset purchase. The President of Atlanta South, John Penn, will transition to a consulting role and Debbie Penn will continue to serve as the office manager. Additionally, Chuck Betsill 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 Atlanta South.
Ron Ross, Chief Executive Officer of SRS Acquisition Corporation, stated, "We are thrilled to welcome the hard working team of employees at Atlanta South to the SRS family. This business has a strong foundation built on a reputation for serving the customer and taking care of their employees, which fits our culture perfectly. Strategically, this provides SRS entry into one of the most dynamic roofing markets in the country and will enjoy the benefit of the close proximity to our existing Suncoast and Rowe Supply location in the Southeast."
John Penn, President and owner of Atlanta South Supply, commented, "All of our employees are excited to be joining forces with the people at SRS. We look at this change as just the next stage of our company's evolution into a larger and stronger company going forward. We feel SRS brings the resources, capital and vision to accelerate our growth in the coming years. More importantly, we feel that they are good people who will preserve the legacy of the company and be good stewards of our employees and customers going forward."
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that currently operates 22 locations in Florida, Georgia, South Carolina, Texas, Illinois, Washington, and Oregon under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX), Rowe Supply (GA/SC), Atlanta South Supply (GA), Wilson Wholesale (IL) and Stoneway Roofing Supply (WA/OR). SRS is a portfolio company of AEA Investors, LLC.
