SRS Distribution Announces New Equity Growth Incentive Plan for its Front Line Employees
SRS Distribution Inc. (“SRS”), a leader in the building products distribution market, announced that it has created a new incentive program – the Equity Growth Incentive Plan (“EGIP”). Dan Tinker, President and CEO of SRS Distribution, communicated the details of the new plan to all of the 5,000+ SRS team members on February 12th. The projected $20 million investment provides each employee not already part of the company’s equity program, such as loaders, drivers and inside sales, with the opportunity to participate in the growth of SRS’s equity value and complements the company’s existing stock option and direct equity investment plans.
Mr. Tinker commented, “Broad equity ownership has always been a key part of our company’s strategy to align employee engagement level, focus, and drive for long term growth and shareholder value creation. Our board of directors and senior management team recognized the opportunity to do something bold and creative that would allow every single employee in the company to benefit from their hard work and efforts going forward. This program accomplishes that objective in a big way. SRS has created a unique people-first culture and seeks to employ the most engaged teams of people in each market we serve, always demonstrating the highest levels of passion and effort for our loyal customers. Our mission statement of “Make Money, Have Fun, and Give Back” and our new EGIP program propels our mutually beneficial approach to partnership, commitment, and universal engagement.”
Mr. Tinker concluded, “We believe that our investment in this program represents the largest amount of equity capital allocated to front-line employees in our industry’s history. All team members of SRS now have the opportunity to take pride in ownership and help SRS exceed its goals and objectives – to be the strongest national network of independent building products distributors with the industry’s best products, service and people.”
About SRS Distribution
Founded in 2008 and headquartered in McKinney, TX, SRS has grown to become one of the largest and fastest growing building products distributors in the United States. Since our inception, we have established a differentiated growth strategy and entrepreneurial culture that is focused on serving our customers, partnering with our suppliers, and attracting the industry’s best talent. We currently operate as a family of distinct local brands encompassing more than 350 locations across 44 states. SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC with over 1,000 employee investors.
Source: SRS Distribution, Inc.