SRS Acquisition Corporation Announces its entrance into the Northeast through the Upcoming Acquisition of Pace Supply Corporation.
SRS Acquisition Corporation (“SRS” or “the Company”) announced today that it has closed on the acquisition of Pace Supply Corporation (“Pace”), a distributor of roofing, siding and windows. The transaction was structured as an asset purchase and closed on Friday, May 21st. Pace, a privately-owned company with headquarters in Lansdale, Pennsylvania, was founded in 1974 and currently employs 31 people. Pace operates four locations in the Philadelphia metro market including: Lansdale, Pottstown, Hatboro, and West Chester, Pennsylvania.
Al Edwards, Pace’s owner, and his entire sales and management team will be staying with the company and the business will continue to operate under the Pace Supply name to ensure continuity for customers, employees and suppliers.
Dan Tinker, Chief Operating Officer of SRS Acquisition Corporation, commented, "We look forward to have the opportunity to un-tap the potential of Pace Supply and to allow them to become a strong platform for growth in the northeast. To the owner’s credit, Al Edwards and the associates of Pace have done an amazing job competing in a very saturated and competitive market over the past couple of years. Our focus going forward will be to help the talented employees at Pace recapture the lost share they once enjoyed by investing heavily in growth initiatives over the coming months.”
Al Edwards, Pace Supply’s owner, stated, "I am very excited about Pace Supply joining the ever growing SRS family of strong independent roofing distributors nationally and in helping them enter the northeast market. We chose SRS due to their reputation for allowing the companies they acquire to remain entrepreneurial and their mission statement of making money and having fun is aligned with the core values that we founded Pace on. I am especially proud that the Pace Supply legacy our great associates spent decades building, will carry on under their stewardship. We will become stronger as our employees will now have a level playing field for which to compete on in our market.”
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that with this transaction will operate 36 locations in Florida, Georgia, South Carolina, Pennsylvania, Texas, Kentucky, Illinois, Minnesota, Colorado, Washington, Oregon and California under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX), Rowe Supply (GA/SC), Atlanta South 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.
Al Edwards, Pace’s owner, and his entire sales and management team will be staying with the company and the business will continue to operate under the Pace Supply name to ensure continuity for customers, employees and suppliers.
Dan Tinker, Chief Operating Officer of SRS Acquisition Corporation, commented, "We look forward to have the opportunity to un-tap the potential of Pace Supply and to allow them to become a strong platform for growth in the northeast. To the owner’s credit, Al Edwards and the associates of Pace have done an amazing job competing in a very saturated and competitive market over the past couple of years. Our focus going forward will be to help the talented employees at Pace recapture the lost share they once enjoyed by investing heavily in growth initiatives over the coming months.”
Al Edwards, Pace Supply’s owner, stated, "I am very excited about Pace Supply joining the ever growing SRS family of strong independent roofing distributors nationally and in helping them enter the northeast market. We chose SRS due to their reputation for allowing the companies they acquire to remain entrepreneurial and their mission statement of making money and having fun is aligned with the core values that we founded Pace on. I am especially proud that the Pace Supply legacy our great associates spent decades building, will carry on under their stewardship. We will become stronger as our employees will now have a level playing field for which to compete on in our market.”
Headquartered in McKinney, TX, SRS Acquisition Corporation is a building products distribution holding company that with this transaction will operate 36 locations in Florida, Georgia, South Carolina, Pennsylvania, Texas, Kentucky, Illinois, Minnesota, Colorado, Washington, Oregon and California under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX), Rowe Supply (GA/SC), Atlanta South 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.
