PEABODY, Mass., Feb 12, 2010 (BUSINESS WIRE) -- Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today
that it has acquired Independent Building Materials ("IBM"), a
distributor of mostly residential roofing systems and related
accessories with one location in Orlando, Florida.
Rick Stiskin, who co-founded IBM with his retiring partner Dennis Booth,
will remain IBM's General Manager and be part Beacon's regional
leadership team. Mr. Stiskin stated, "Dennis and I believe that joining
Beacon presents a fantastic opportunity for IBM and our employees.
Beacon's size and reputation in the industry will allow us to better
serve our customers and expand our product offering to help grow our
business. We could not be more excited about IBM's future."
Paul Isabella, Beacon's President and Chief Operating Officer,
emphasized the strategic fit of the IBM acquisition and the
compatibility of the two companies and stated, "We are very excited to
have IBM and its experienced team join Beacon. IBM presents us with an
excellent opportunity to enter the Orlando market and begin to expand
our footprint in Florida. Equally important is that IBM's team shares
our belief that success comes from hard work and a strong commitment to
your employees and customers."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a
leading distributor of roofing materials and complementary building
products operating 174 branches in 37 states in the United States and in
three provinces in Eastern Canada. Website: www.beaconroofingsupply.com.
"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.
BECN-F
SOURCE: Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc.
David Grace, 978-535-7668 x14
CFO
dgrace@beaconroofingsupply.com
Copyright Business Wire 2010