HERNDON, Va.--(BUSINESS WIRE)--
Beacon Roofing Supply (NASDAQ: BECN), the largest publicly traded
distributor of residential and commercial roofing materials and
complementary building products, announced today that it has acquired
Eco Insulation Supply ("EIS"), a distributor of insulation and related
accessories serving Connecticut, Southern New England and the New York
City metropolitan area from its location in Stamford, CT. EIS will
provide new and important geographical reach to Beacon's existing
insulation business that grew significantly with Beacon's acquisition of
Roofing & Insulation Supply in December 2015.
EIS President Kevin Brown, who will remain with the Company, stated,
"Joining forces with Beacon presents a unique opportunity for EIS to
grow and better serve our customers. I selected Beacon because it
presents the best avenues for advancement for EIS's employees. Beacon's
commitment to its insulation business, along with Beacon's size and
relationships with the major insulation manufacturers, will open new
doors for EIS and provide growth opportunities that we could not achieve
independently. This is an exciting day for EIS and all of our employees."
Paul Isabella, Beacon's CEO and President, emphasized the strategic fit
of the acquisition and the compatibility of the two companies, stating,
"We are very excited that EIS has joined the Beacon family. EIS's strong
reputation with contractors in its markets will provide an excellent
complement to Beacon's insulation footprint, which we are committed to
growing both through additional acquisitions of great companies like EIS
and through strategic greenfield openings. I welcome Kevin Brown and all
of EIS's experienced employees and know that they will be great
additions to Beacon."
About Beacon Roofing Supply
Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly
traded distributor of residential and commercial roofing materials and
complementary building products, operating 373 branches throughout 47
states in the U.S. and 6 provinces in Canada. To learn more about Beacon
and its family of regional brands, please visit www.becn.com.
This release contains information about management's view of the
Company's future expectations, plans and prospects that constitute
forward-looking statements for purposes of the safe harbor provisions
under the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors,
including, but not limited to, those set forth in the "Risk Factors"
section of the Company's latest Form 10-K. In addition, the
forward-looking statements included in this press release represent the
Company's views as of the date of this press release and these views
could change. However, while the Company may elect to update these
forward-looking statements at some point, the Company specifically
disclaims any obligation to do so, other than as required by federal
securities laws. These forward-looking statements should not be relied
upon as representing the Company's views as of any date subsequent to
the date of this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170109005915/en/
Beacon Roofing Supply, Inc.
Joseph Nowicki, Executive VP & CFO
Source: Beacon Roofing Supply, Inc.
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