Home Depot subsidiary to acquire wholesale HVAC distributor Mingledorff’s

Home Depot (HD) subsidiary SRS Distribution has entered into a definitive agreement to acquire Mingledorff’s, a wholesale distributor of heating, ventilation and air conditioning, or HVAC, equipment, parts and supplies, serving residential and commercial customers through 42 locations in five states across the southeastern U.S. CEO David Kesterton, as well as his senior leadership team, will continue to lead Mingledorff’s as part of the SRS organization. The closing of the acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to be completed during Q2. The transaction is expected to be funded through cash on hand and debt. The company does not expect this acquisition to impact the return to its target 2.0x leverage ratio, which is anticipated to occur by the end of Q2 of FY27. Financial terms of the transaction were not disclosed.