Gulfeagle Supply Spreads Roofing Wings Further West
Gulfeagle Supply, a leading full line distributor of residential and commercial roofing and building products, has announced that that the company has entered into an agreement to acquire Arizona-based Elite Roofing Supply.
With 26 branches in 9 states, Elite Roofing Supply (ERS) is the largest independent roofing distributor west of the Mississippi River. ERS currently serves roofing professionals from branches in Arizona, California, Colorado, Georgia, Kansas, Louisiana, Missouri, New Mexico and Texas.
Elite Roofing Supply was founded in early 2013 when, according to the company’s LinkedIn profile, “a group of seasoned distributor professionals decided to go against the trend of nationwide consolidations and start a local, manager-owned distributorship called Elite Roofing Supply.”
Elite Roofing Supply's Busy Decade of Expansion
From those humble origins and one location in 2013, the team at Elite Roofing Supply embarked on an aggressive growth campaign by opening new branches originally close to home and progressively further east.
By 2020, Elite was operating out of 17 locations with a successful formula of empowering local leadership to run their branches in a way that local roofing pros had come to expect and appreciate.
Beginning in 2021, the company began to expand its footprint in the Southeast with new branch openings in Lafayette, Louisiana (#20), Atlanta (#21) and Cartersville, Georgia (#25).
Looking at the map above, it was only a matter of time before Elite Roofing Supply, either as a standalone or merged entity, had a presence in the Sunshine State considering that Florida is home to more roofing businesses than any other state.
Gulfeagle Supply's Half Century of Roofing Acquisitions & Start-Ups
While Elite Roofing Supply had a busy decade of expansion, Gulfeagle Supply has had an equally fast-paced half century of acquisitions in the roofing and building product supply and wholesale arenas.
Gulfeagle Supply made its first acquisition in 1975, just two years after the company’s founding. The acquisition of Service Lumber in Jacksonville was followed by other Florida acquisitions in Miami (Southern Diversified), Melbourne (Sun Supply), Pompano Beach, Fort Myers and Sarasota (United Wholesale), and Gainesville (Stingfellow Supply).
In the 1990s, Gulfeagle Supply solidified its presence in the Southeast with the 1995 acquisition of American Wholesale in Alabama and the Florida Panhandle followed by the Standard/Bieler acquisition in South Florida and the 1997 acquisition of Roofline Supply in Macon, Georgia.
In addition to acquisitions, the company was simultaneously expanding through new start-up locations in markets like Orlando, Sarasota, Ft. Myers, Daytona, Tallahassee, Decatur, St. Petersburg, Wichita, Oklahoma City, and Charleston.
And just as Elite Roofing Supply was moving further into Gulfeagle’s territory in the early 2020’s, Gulfeagle officially entered Elite’s backyard with the 2022 acquisition of R&S Supply which saw Gulfeagle planting its first flags in Arizona, California, Idaho, Montana, Nevada and Oregon.
Gulfeagle Supply To Acquire Elite Roofing Supply
Fast forward to 2024 and the two companies are now serving roofing and building professionals from over 140 locations nationwide.
In this week’s pre-acquisition announcement, Gulfeagle President Brad Resch emphasized two aspects of Elite Roofing Supply that made the company so attractive: the people and similar core values.
“Elite Roofing Supply is a top-notch organization with a quality management team, and we are so excited to have them join our team. They share our same values, and this couldn’t be a better fit to allow us to better serve our contractors, employees, and vendors.” -Gulfeagle Supply President Brad Resch
According to the official press release announcing the strategic agreement between Gulfeagle and ERS, “the transaction will officially close at the end of June, and the companies will continue with business as usual until then.”
Contact CII Today
If you own an established roofing business in Florida or Georgia and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.