PEABODY, Mass.--(BUSINESS WIRE)--April 28, 2005--Beacon Roofing
Supply, Inc. (Nasdaq: BECN) announced today the acquisition of
Insulation Systems, Inc. ("ISI"), a distributor of commercial roofing
and other complementary building products with locations in Roanoke
and Virginia Beach, Va.
ISI is a successful and growing company and represents an
excellent opportunity for Beacon to expand its commercial distribution
business further into the attractive Virginia market. ISI was founded
in 1987 and generated net sales of approximately $19 million for the
year ended December 31, 2004.
Jack Smith, President of ISI, stated, "Our associates are excited
about joining a growing and successful public company such as Beacon
and we look forward to working with the Beacon associates to help grow
their commercial roofing business."
Robert Buck, CEO of Beacon, stated, "Jack has built an outstanding
company with an excellent leadership team. ISI will strengthen our
commercial business in the southeastern region of the United States.
They have hard-working employees who share our commitment to quality
products and customer service."
About Beacon Roofing Supply Inc.:
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products operating 79 branches in
key metropolitan markets in the Northeast, Mid-Atlantic, Southeast and
Southwest regions of the United States and in Eastern Canada.
Forward-Looking Statements:
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 "Risks Relating
to Our Business and Industry" 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.
CONTACT: Beacon Roofing Supply, Inc.
Dave Grace, CFO, 978-535-7668
SOURCE: Beacon Roofing Supply, Inc.