Gulfeagle Supply announced the successful acquisition of Elite Roofing Supply, making it one of the largest family-owned and operated roofing distributors in the nation. The combined entity will now operate more than 140 branches nationwide. Financial details of the transaction were not disclosed.
According to a news release, the acquisition "strengthens the capability of Gulfeagle Supply and Elite Roofing Supply to serve a wider market of residential and commercial roofing professionals nationwide." Gulfeagle says Elite’s existing branch network complements its locations with minimal overlap. Gulfeagle entered into an agreement to acquire Elite in late April.
"We are excited to welcome Elite Roofing Supply into the Gulfeagle Supply family," said Brad Resch, president of Gulfeagle Supply. "This acquisition perfectly aligns with our long-term growth strategy, enabling us to expand our footprint and reinforce our commitment to exceptional customer service."
The combined locations of Gulfeagle and Elite Roofing Supply. Image: Gulfeagle Supply
Sarah Weiss, CEO of Elite Roofing Supply, will continue in a leadership capacity as executive vice president (Legacy Elite), reporting to Resch. Resch will collaborate with both Elite and Gulfeagle leadership teams to integrate the companies.
"This acquisition opens a new chapter for us, growing our reach and enhancing our capabilities to better serve our customers, vendors, and offer expanded opportunities for our team members," said Weiss. "The Resch family’s dedication to remaining independent and being an employer of choice within the industry were key factors that attracted our team to join the Gulfeagle family."
Gulfeagle said key benefits of the acquisition include increased capacity to meet customer needs, a stronger nationwide footprint, advanced technology integration, and a continued commitment to a relationship-driven, customer service-focused approach.
Gulfeagle Supply was founded in 1973 by Jim Resch in Tampa, Fla., originally known as Gulfside Supply. Elite Roofing Supply was founded in 2013 by Brian Torry, Weiss, and Greg Russell and headquartered in Phoenix.
Hill Ward Henderson is serving as legal advisor to Gulfeagle. Goldman Sachs & Co. is serving as exclusive financial advisor and Morgan, Lewis & Bockius LLP and Axinn, Veltrop & Harkrider LLP are serving as legal advisors to Elite.
