Home Depot’s SRS to acquire Colorado HVAC distributor

Home Depot subsidiary SRS Distribution announced Monday that it has entered into a definitive agreement to acquire distributor Lohmiller & Company for an undisclosed sum as it expands its HVAC portfolio.

What’s happening: Denver-based Lohmiller distributes a range of residential and commercial Carrier products across four locations throughout Colorado and counts 220 employees.

• “By leveraging the resources and expertise of SRS, we plan to further strengthen relationships with our customers while providing even more opportunities for our employees to grow their own careers,” Lohmiller president Tim Brooks said in a statement.
• While financial terms weren’t disclosed, Brooks said in a 2024 interview with Distribution Strategy Group that the company generated “just under” $250 million in revenue the year prior.

Representatives for Lohmiller and Home Depot didn’t return requests for comment. SRS declined to comment. 

Zoom out: The move marks SRS’s second HVAC deal, following its acquisition of Mingledorff’s, the Southeast’s largest Carrier and Bryant distributor, announced in March.

• “Lohmiller and Mingledorff’s are both strategically aligned with Carrier, and we are thrilled to support this partnership as we continue expansion in the HVAC space,” said SRS CEO Dan Tinker.

The big picture: In 2024, Home Depot acquired SRS — one of the nation’s largest roofing distributors — for more than $18 billion as part of a push to capture more contractor spending across trades.

• “HVAC distribution represents a total addressable market of approximately $100 billion and increases The Home Depot’s total addressable market to $1.2 trillion,” the company wrote in May.