Done Deal: Home Depot subsidiary acquires HVAC wholesaler
The Home Depot has closed a deal that further enhances offerings for its “pro” customers.
The home improvement retailer’s subsidiary SRS Distribution Inc., which it acquired in 2024 for $18.25 billion, has completed the acquisition of Mingledorff's, a leading wholesale distributor of heating, ventilation and air conditioning equipment, parts and supplies. The company serves residential and commercial customers through 42 locations in five states across the Southeastern U.S.
According to the Home Depot, HVAC distribution represents a total addressable market of approximately $100 billion and increases the chain's total addressable market to $1.2 trillion.
Home Depot has been investing to expand its offerings and capabilities to better serve contractors and other home professional customers as it looks to increase its pro business. The retailer said the acquisition of Mingledorff' enables it to further penetrate the market for HVAC parts and supplies, creating even greater value for the pro customer.
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"The addition of Mingledorff's represents another key milestone in our strategy to better serve the pro with the most comprehensive product and service offerings," said Ted Decker, chair, president and CEO of The Home Depot. "Adding this premier HVAC platform strengthens SRS's high-growth distribution engine and allows us to provide a more complete range of inventory and expertise for our pro customers. This expansion also enables us to drive cross selling synergies and streamlined fulfillment across our pro ecosystem, establishing The Home Depot as the ultimate destination for professional builders, general contractors, remodelers and multifamily customers."
"We're focused on combining our collective strengths to deliver a seamless experience for our customers,” said Dan Tinker, CEO of SRS. By bringing Mingledorff's' deep HVAC expertise into our national network, we're providing Pros with even greater convenience and more ways to grow their businesses through a single, reliable partner."
At the end of fiscal 2025, the Home Depot operated a total of 2,359 retail stores and over 1,250 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.
