TAMPA - Hyde Park Capital announced that its client, Sunniland Corporation ("Sunniland"), a distributor of residential & commercial roofing products and related accessories and supplier of professional grade fertilizers, has been acquired by SRS Distribution Inc. ("SRS"), one of the largest and fastest-growing building product distributors in the United States based in McKinney, Texas. SRS is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC. Hyde Park Capital served as the exclusive investment banker to Sunniland for this transaction. Shutts & Bowen served as legal counsel to Sunniland.
Tom Moore, Owner of Sunniland Corporation, said "My family and I have spent over 40 years building Sunniland's brand, reputation, and culture. We have always prided ourselves on being an independent distributor, so the decision to join forces with SRS was not taken lightly. SRS's employee-first mentality and familial atmosphere has created a truly unique platform where promoting exceptional customer service is at the heart of everything they do. I firmly believe SRS is the best home for our people and the business we've built and am confident that the future is bright for our two great companies."
Dan Tinker, President and CEO of SRS, said "We could not be more excited to welcome Tom and the Sunniland team to the SRS family. The Company is one of the most respected independents in the industry and will be an excellent fit within our existing branch network in the important Florida market. We have known Tom and admired his business for many years and are truly excited for what we can now accomplish together."
John McDonald, Senior Managing Director of Hyde Park Capital, said "It has been an honor working for Tom and the entire team at Sunniland on this important transaction. The Company has progressively captured additional market share in the building products sector due to a great reputation established over the years. It was important to Tom that the structure of the transaction was based not only on the economics of the deal, but also the strategic fit for employees and customers. We are excited about the future of Sunniland and believe the Company will continue to grow and prosper under SRS's ownership."
