Home Depot’s SRS Adds $100B HVAC Vertical with 42-Location Mingledorff’s Acquisition
SRS Distribution Inc., a subsidiary of Home Depot, has completed its purchase of Mingledorff’s, a 42-location HVAC equipment distributor operating in five Southeastern U.S. states. This acquisition adds a new HVAC vertical worth an estimated $100B addressable market, increasing Home Depot’s total TAM to $1.2T and enhancing Pro cross-sell synergies.
1. Acquisition Details
SRS Distribution, a wholly owned subsidiary of Home Depot, has finalized the acquisition of Mingledorff’s, a leading wholesale HVAC equipment, parts and supplies distributor with 42 locations across Alabama, Georgia, Florida, South Carolina and North Carolina. Financial terms were not disclosed, but the deal was first announced on March 24, 2026 and closes the gap in SRS’s specialty trade distribution portfolio.
2. Market Expansion Impact
With this purchase, SRS enters the HVAC distribution vertical, which represents an estimated $100 billion total addressable market. The move boosts Home Depot’s combined total addressable market to approximately $1.2 trillion, leveraging Mingledorff’s established customer relationships and regional network.
3. Strategic Implications for Pro Customers
The integration adds HVAC parts and supply capabilities to SRS’s existing roofing, building, interior, construction, landscape and pool products, enabling more comprehensive project support for professional builders. Home Depot aims to drive cross-selling synergies and streamline fulfillment across its Pro ecosystem, positioning itself as a one-stop partner for contractors and remodelers.