PEABODY, Mass.--(BUSINESS WIRE)--Aug. 25, 2006--Beacon Roofing
Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today the acquisition
of Roof Depot, Inc. ("Roof Depot"), a Minnesota-based distributor of
residential and commercial roofing and other related building products
with locations in Minneapolis and Stillwater, Minn.
Roof Depot is a successful and well-respected distributor of
roofing and other complementary building products and presents an
excellent opportunity for Beacon to expand its Midwest presence into
the vibrant Minneapolis-Saint Paul metropolitan market. Founded in
1987, Roof Depot employs 70 associates and generated net sales of
approximately $31 million for its fiscal year ended December 31, 2005.
Consistent with Beacon's other acquisitions, these facilities will
continue to operate under the Roof Depot name to maintain the close
relationships Roof Depot has developed with its customers.
Mike McGrath, President of Roof Depot, stated, "Our team of
hard-working and dedicated employees are thrilled to be joining the
fast-growing Beacon team and recognize the benefits of combining
talents and resources to accelerate our growth opportunities for the
future. Beacon was our preferred acquirer from day one due to its
company culture and management philosophy, both of which are closely
aligned with Roof Depot's."
Robert Buck, President & CEO of Beacon, emphasized the strategic
fit of the Roof Depot acquisition and stated, "Roof Depot provides
Beacon with an excellent opportunity to expand our geographic presence
in the Midwest into a new and dynamic Minnesota market that provides
an ideal platform for continued growth. Roof Depot has an experienced,
knowledgeable management team and very talented and hard-working
employees who have produced profitable results with a commitment to
service excellence that has earned Roof Depot a strong reputation with
its customers."
About Beacon Roofing Supply Inc.:
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products operating 151 branches
in 31 states in the Northeast, Mid-Atlantic, Midwest, Central Plains,
Southeast, Southwest and Western regions of the United States and in
Eastern Canada.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding Beacon
Roofing Supply Inc.'s business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For
a discussion of such risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see "Risk Factors" in the Company's Annual Report or Form
10-K for the most recently ended fiscal year.
CONTACT:
Beacon Roofing Supply, Inc.
David Grace, CFO,
978-535-7668 x14
SOURCE: Beacon Roofing Supply, Inc.