Weil, Latham Aid Home Depot’s Plan to Buy SRS for $18.25 Billion

Home Depot Inc. leaned on Weil, Gotshal & Manges for advice in its acquisition of building materials supplier SRS Distribution Inc. for $18.25 billion.

Weil mergers and acquisitions partners Michael Aiello and Eoghan Keenan worked on the deal for Home Depot.

Aiello chairs the firm’s corporate department of more than 600 lawyers, and he handled past deals including Dow Chemical’s merger with Du Pont de Nemours, according to Weil’s website. Keenan previously worked on Scripps Networks Interactive Inc.'s merger with Discovery Communications.

SRS took guidance from Latham & Watkins, led by New York partners Paul Kukish, Michael Vardanian and Daniel Williams.

The $18.25 billion acquisition is part of Home Depot’s effort to build its professional services business. SRS, a portfolio company of private equity firm Leonard Green & Partners and Berkshire Partners, distributes materials for residential landscaping, roofing and pools in the US and has more than 760 branches.

The market for mergers and acquisitions has been slow as buyers and sellers struggle with expensive credit, mismatched valuation expectations and investor uncertainty. Global deal activity dropped to $3.6 trillion last year, down around 20% from 2022, according to Bloomberg data.