Funding for the deal was provided by UBS Investment Bank, Barclays and Crescent Capital Group.
Josh Lutzker, Berkshire Partners managing director, said, “SRS is led by a talented management team whose entrepreneurial culture and focused execution have led to outstanding growth since its founding.
“The company is well-positioned to continue this growth and we look forward to partnering with Ron and the rest of the SRS team in the years ahead.”
The firm currently has eight institutional private equity funds with $11bn of committed capital.
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