Tampa, Fla. – September 29, 2023 – Hyde Park Capital announced today 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.”
About Sunniland Corporation
Headquartered in Sanford, Florida, Sunniland Corporation was founded in 1884 and is currently owned and operated by Tom Moore. The Company has a branch network of 22 locations across Florida and South Georgia. Tom and the rest of the Company’s leadership team will continue to lead Sunniland’s dedicated employee base under the existing brand, ensuring continuity and consistency for customers, suppliers, and employees. For additional information, please visit www.sunniland.com.
About SRS Distribution Inc.
Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution Inc. has grown to become one of the largest and fastest growing building products distributors in the United States. Since the Company’s inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry’s best talent. SRS currently operates under a family of distinct local brands encompassing more than 740 locations across 45 states. For additional information, please visit www.srsdistribution.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused boutique investment banking firm specializing in mergers and acquisitions and focusing on serving the corporate finance needs of successful founder and family-owned companies. Hyde Park’s principals have extensive investment banking experience managing merger and acquisition engagements, including executing sell-side and buy-side sale of company assignments, recapitalizations, financial advisory services, fairness opinions, and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park Capital has extensive experience across numerous industry sectors, including industrial, technology, healthcare, business, and financial services. Hyde Park Capital is headquartered in Tampa, Florida, and is a member of FINRA and SIPC. Hyde Park Capital is also a member of the Geneva Capital Group (GCG) International M&A Alliance (see www.gcg.com). For additional information, please visit www.hydeparkcapital.com.
John M. McDonald III
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