Private equity firm Berkshire Partners has purchased SRS Distribution Inc.
SRS, headquartered in McKinney, Texas, is a residential roofing distributor in the U.S. The company has 85 locations in 29 states under 19 different brands, including Suncoast Roofers Supply, Southern Shingles, SRS Roofing Supply, Shake & Shingle Supply and others.
Boston-based Berkshire has invested in more than 100 middle market companies since its founding in 1986. The firm aims to invest between $50 million and $500 million of equity capital in each of its portfolio companies. It has invested in Aritzia, Coty Inc. and Husky Injection Molding Systems. Berkshire recently acquired its stakes in Coty and Husky.
Harris Williams & Co. was SRS’s financial adviser for the deal. Paul Hastings LLP UBS AG's legal counsel as administrative agent for the loans. Terms were not disclosed.