SRS Acquisition Corporation Acquires Rowe Supply Inc.
SRS Acquisition Corporation announced that it has completed
the acquisition of Rowe Supply Inc., a leading independent distributor of
residential and commercial roofing in the Savannah, Ga., and Hilton Head, S.C.,
markets.
Rowe Supply, a privately owned company with 14
employees, was founded in 1978 and currently operates one location in Savannah, while a second
location in Hilton Head is currently under construction and set to open in
early 2009.
McKINNEY, Texas - SRS Acquisition Corporation announced that it has completed the acquisition of Rowe Supply Inc., a leading independent distributor of residential and commercial roofing in the Savannah, Ga., and Hilton Head, S.C., markets.
Rowe Supply, a privately owned company with 14 employees, was founded in 1978 and currently operates one location in Savannah, while a second location in Hilton Head is currently under construction and set to open in early 2009.
Rowe Supply has developed a strong reputation for superior customer service and SRS intends to immediately build on this platform for growth in the Coastal Carolina and Georgia markets. Rowe Supply currently services both new construction and re-roof segments of the residential and commercial roofing markets in he Savannah ad Hilton Head corridor
The transaction is structured as an asset purchase. The president of Rowe Supply, Pete Rowe, will be transitioning to a consulting role, and Jim Lynes will serve as the regional manager for his new SRS division, which will ensure continuity and consistency for the customers, employees and suppliers of Rowe Supply.
Dan Tinker, Chief Operating Officer of SRS, said his company is excited to welcome the dedicated employees of Rowe Supply to the SRS team.
“The Georgia and Carolina coasts are some of the fastest growing markets in the country and Rowe Supply gives us an immediate market leadership position there,” he said. “Additionally, Rowe Supply provides SRS continuous geography to our existing Suncoast locations in Florida and will serve as a catalyst for future acquisitions and Greenfield locations planned for the Southeast and Mid-Atlantic.”
Pete Rowe, President and owner of Rowe Supply, said it’s always a hard decision to know when a company that has been family owned and operated for the last three decades.
“But SRS represented the very best option to achieve my optimal succession plan,” Rowe said. “We value that SRS is led by industry veterans who know the business, value people and relationships, make work fun, and most importantly have a track record of what they say they will do. However, what excites me the most is that our employees will have infinitely more career opportunities going forward with SRS.”
Headquartered in McKinney, Texas, SRS Acquisition Corporation is a building products distributor holding company that currently operates 10 locations in Florida, Texas and Illinois under the names: Suncoast roofers Supply (Fla.), Southern Shingles (Texas), and Wilson Wholesale (Illinois).
For more information, visit www.srsicorp.com.
McKINNEY, Texas - SRS Acquisition Corporation announced that it has completed the acquisition of Rowe Supply Inc., a leading independent distributor of residential and commercial roofing in the Savannah, Ga., and Hilton Head, S.C., markets.
Rowe Supply, a privately owned company with 14 employees, was founded in 1978 and currently operates one location in Savannah, while a second location in Hilton Head is currently under construction and set to open in early 2009.
Rowe Supply has developed a strong reputation for superior customer service and SRS intends to immediately build on this platform for growth in the Coastal Carolina and Georgia markets. Rowe Supply currently services both new construction and re-roof segments of the residential and commercial roofing markets in he Savannah ad Hilton Head corridor
The transaction is structured as an asset purchase. The president of Rowe Supply, Pete Rowe, will be transitioning to a consulting role, and Jim Lynes will serve as the regional manager for his new SRS division, which will ensure continuity and consistency for the customers, employees and suppliers of Rowe Supply.
Dan Tinker, Chief Operating Officer of SRS, said his company is excited to welcome the dedicated employees of Rowe Supply to the SRS team.
“The Georgia and Carolina coasts are some of the fastest growing markets in the country and Rowe Supply gives us an immediate market leadership position there,” he said. “Additionally, Rowe Supply provides SRS continuous geography to our existing Suncoast locations in Florida and will serve as a catalyst for future acquisitions and Greenfield locations planned for the Southeast and Mid-Atlantic.”
Pete Rowe, President and owner of Rowe Supply, said it’s always a hard decision to know when a company that has been family owned and operated for the last three decades.
“But SRS represented the very best option to achieve my optimal succession plan,” Rowe said. “We value that SRS is led by industry veterans who know the business, value people and relationships, make work fun, and most importantly have a track record of what they say they will do. However, what excites me the most is that our employees will have infinitely more career opportunities going forward with SRS.”
Headquartered in McKinney, Texas, SRS Acquisition Corporation is a building products distributor holding company that currently operates 10 locations in Florida, Texas and Illinois under the names: Suncoast roofers Supply (Fla.), Southern Shingles (Texas), and Wilson Wholesale (Illinois).
For more information, visit www.srsicorp.com.
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