Home Depot subsidiary SRS Distribution agreed to acquire Mingledorff's, Inc., a wholesale distributor of HVAC equipment. This acquisition expands SRS into the HVAC sector.
The deal increases Home Depot's total addressable market by approximately $100 billion. The company's total market opportunity now reaches $1.2 trillion.
Mingledorff's operates 42 locations across five southeastern states. CEO Ted Decker stated the deal creates an enterprise-wide HVAC platform to serve professional customers.
The move aims to capture a larger share of the fragmented building materials distribution industry. Home Depot identifies SRS as a key growth engine for its Pro business. Financial terms were not disclosed.