PEABODY, Mass., Jan 12, 2006 (BUSINESS WIRE) -- Beacon Roofing Supply, Inc. (Nasdaq: BECN) announced
today the acquisition of C&S Roofing Materials, Inc., doing business
as Pacific Supply Company ("Pacific"), a west coast distributor of
roofing and other building products headquartered in Orange,
California.
Pacific operates four facilities in Southern California that offer
residential and commercial roofing products and other complementary
building products. It is a successful and fast growing company and
represents an excellent opportunity for Beacon to expand its
distribution business into the very attractive west coast markets.
Pacific was founded in 1970, employs 123 associates and generated net
sales of approximately $53 million for the year ended December 31,
2005.
Pacific has a knowledgeable and motivated management team that has
produced excellent results during its long history. Consistent with
Beacon's other acquisitions, Pacific's facilities will continue
operating under their local identity to continue the close
relationships they have developed with their customers.
Chuck Wentworth, CEO of Pacific, stated, "Pacific and Beacon share
common cultures with an emphasis on quality people, products and
services and our employees are enthusiastic about extending Pacific's
and Beacon's reputation for quality products and services to other
areas of the west coast. Rob Keen, President of Pacific, remarked,
"Our management team is excited about the growth opportunities that
are available to us by combining our talents and resources with
Beacon. Beacon has shown the ability to grow their other regions
quickly and profitably and we want to serve as the springboard for
them to develop a significant future west coast presence."
Robert Buck, CEO of Beacon, emphasized the overall strategic
importance of the Pacific acquisition and stated, "Pacific is a
respected supplier in Southern California and opens up the entire west
coast to us for additional expansion. They have experienced employees
and California is a terrific new market for us."
About Beacon Roofing Supply Inc.:
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products operating 142 branches
in 30 states in the Northeast, Mid-Atlantic, Midwest, Central Plains,
Southeast, Southwest and Western 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 "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.
SOURCE: Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc.
Dave Grace, 978-535-7668 x14
CFO