Home Depot Subsidiary to Acquire Mingledorff's
DISTRIBUTION ACQUISITION: SRS Distribution Inc., a subsidiary of home improvement retail giant The Home Depot, announced plans to acquire HVACR distributor Mingledorff's Inc.
MCKINNEY, Texas — The Home Depot subsidiary SRS Distribution Inc. plans to acquire Mingledorff's Inc., a wholesale distributor of HVAC equipment, parts, and supplies with 42 locations in five states across the Southeastern U.S.
The move is part of The Home Depot’s plans for expanding its offerings for professional trades customers. Through SRS, Home Depot has established a position in specialty trade distribution across multiple verticals, including roofing, exterior and interior building materials, landscape products, and swimming pool products, a press release from the company said. SRS's acquisition of Mingledorff's will add HVAC products as a new vertical.
Mingledorff's brings an extensive product portfolio, a robust distribution network, and established customer relationships that are complementary to SRS's existing business, positioning the company to win greater share of the fragmented building materials distribution market, the press release said. HVAC distribution represents a total addressable market of approximately $100 billion, the press release said, and will increase Home Depot's addressable market to $1.2 trillion.
"The momentum we've seen in the SRS business is a testament to its strong customer value proposition and execution," said Ted Decker, Home Depot chairman, president, and CEO. "SRS is a growth engine for The Home Depot, and we continue to drive significant synergies that enable us to bring more innovation and value to our pro customers. The addition of Mingledorff's will give us an incredible opportunity to build an enterprise-wide platform in HVAC equipment, replacement parts, and supplies, creating another entry point into the broader distribution space."
"We are thrilled to welcome Mingledorff's to the SRS family, establishing another vertical that allows us to serve new pro contractors while enhancing our product offering to our existing builder, general contractor, and multifamily customers more holistically than ever before," said Dan Tinker, CEO of SRS.
"Joining forces with SRS and The Home Depot marks an incredible new chapter in our company's history and gives us a powerful platform to broaden our reach and impact," said David Kesterton, president and CEO of Mingledorff's. "As a family-owned business with a long-standing heritage of service, we have always prioritized deep partnerships and an unwavering commitment to our customers' success."
Kesterton and his senior leadership team will continue to lead Mingledorff's as part of SRS.
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The acquisition’s closing is subject to customary conditions, including regulatory approvals, and is expected to be completed during the second quarter. The transaction is expected to be funded through cash on hand and debt.
The Home Depot, as of the end of the 2025 fiscal year, operated 2,359 retail stores and more than 1,250 SRS locations across all 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam, plus 10 Canadian provinces and Mexico.
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