Building materials distributor SRS Distribution is doubling down on HVAC with a deal to acquire Denver-based Lohmiller & Company.

Bought by The Home Depot in mid-2024 for $18 billion, SRS said Aug. 10 that it entered into a definitive agreement to acquire Lohmiller — a wholesale distributor of HVAC equipment, parts and supplies serving residential and commercial customers through four Colorado locations. Terms were not disclosed.

Founded in 1990, Lohmiller employs 220 people and distributes Carrier Corp.’s residential, light commercial and applied HVAC products. Owners and operators Tim Brooks, Mark Brown and Roger Lee will continue to lead the business following the transaction.

The deal follows SRS’ May acquisition of Mingledorff’s — a 42-location HVAC distributor serving five Southeastern states. That transaction established HVAC as a new SRS vertical alongside its roofing and building products, interior and construction products, landscape and pool businesses.

SRS CEO Dan Tinker called Lohmiller “the second addition to our nascent HVAC platform” and noted that both Lohmiller and Mingledorff’s are aligned with Carrier.

When SRS first announced the Mingledorff’s deal in March, Home Depot said HVAC distribution represented an approximately $100 billion total addressable market and would increase its overall addressable market to $1.2 trillion. Home Depot acquired SRS for approximately $18.25 billion in 2024, then used SRS to acquire specialty building products distributor GMS for $5.5 billion in 2025.

MDM Analysis

Lohmiller is less about four Colorado branches than what the deal says about SRS’ acquisition playbook. After years in which SRS’ tuck-ins largely deepened existing categories, the sequence of GMS, Mingledorff’s and now Lohmiller shows SRS increasingly using M&A to add entire Pro-facing verticals and then scale them regionally.

Home Depot has telegraphed this strategy for several years: win more share of wallet by giving large Pros more products, fulfillment and trade services across the full project. When GMS was announced in 2025, Home Depot said first-year SRS synergies already included cross-selling products and services and expanding enterprise trade credit. When Mingledorff’s closed in May, Home Depot explicitly pointed to cross-selling and streamlined fulfillment across its Pro ecosystem.

Lohmiller makes HVAC look less like a one-off adjacency and more like a repeatable platform. With Mingledorff’s in the Southeast and Lohmiller in Colorado, SRS is beginning to plant geographic nodes that can broaden its reach with builders, general contractors and multifamily customers — the same customers already buying roofing, interiors and other building products.