PEABODY, Mass.--(BUSINESS WIRE)--
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today
that it has reached an agreement to acquire McClure-Johnston Company
("McClure-Johnston"), a distributor of residential and commercial
roofing products and related accessories headquartered in the Pittsburgh
suburb of Braddock, Pa. Founded in 1914, McClure-Johnston has 14
locations with eight in Pennsylvania, three in West Virginia, one in
Western Maryland and two in Georgia. Annual sales are approximately $85
million. Closing on the transaction is expected on or before November 1,
2012, and is to occur simultaneously with the execution of a definitive
purchase agreement.
Brian Hogan, McClure-Johnston's President stated: "We are very excited
to join Beacon, which presents a great opportunity for McClure-Johnston
to continue our long tradition of customer service and to expand our
product offerings. Both my family and our ownership partners in the
Oxenreiter family have known Beacon's leadership team for many years and
easily concluded that of all the possible merger partners in the
industry, Beacon best fit McClure-Johnston's culture of hard work,
integrity, and a commitment to employees and customers. I look forward
to leading our dedicated and knowledgeable staff as we join forces with
Beacon."
Paul Isabella, Beacon's CEO and President, emphasized the strategic fit
of the acquisition and the compatibility of the two companies and
stated, "For nearly a century, McClure-Johnston has been a leader in the
industry. We are very excited that the Hogan and Oxenreiter families
chose to align the great company they have built together with Beacon as
we continue our expansion in these key markets and beyond. We are very
pleased to welcome them and the entire experienced and highly-regarded
McClure-Johnston team to the Beacon family."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a
leading distributor of roofing materials and complementary building
products currently operating 210 branches in 38 states in the United
States and across 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
Beacon Roofing Supply, Inc.
David Grace, 978-535-7668 x14
CFO
dgrace@beaconroofingsupply.com.
Source: Beacon Roofing Supply, Inc.
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