HERNDON, Va--(BUSINESS WIRE)--
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today
that it has acquired Roofing & Insulation Supply ("RIS"), a distributor
primarily of residential and commercial insulation along with roofing
and related products with 20 branches spanning 13 states across New
England, the Mid-Atlantic, the Southeast, the Upper Midwest, Texas and
Colorado. RIS has 14 branches that distribute only insulation, three
branches that distribute only roofing, and three branches that
distribute both. Founded in 2000 by a group of roofing and insulation
industry veterans, RIS has its corporate headquarters in Dallas, Texas
and sales of approximately $70 million annually.
RIS founder Sprague Mullikin stated: "we are pleased to join forces with
Beacon, which has a strong platform to allow RIS to better serve our
existing customers and reach new customers across the United States and
Canada. Being part of the Beacon team will allow RIS to continue our
long history of excellent customer service and greatly add to Beacon's
existing insulation business. We were presented with many strategic
opportunities, but we chose to align with Beacon because Beacon fit best
with our culture and values, shares our dedication to customer service
and offers the greatest growth opportunity for our employees. We are
very excited about our future 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, "we are very excited that RIS has joined the Beacon team.
Sprague Mullikin and his partners have built a great company with a
strong customer base, experienced employees and great vendor
relationships. RIS will significantly bolster our existing insulation
business, which has been a very strong complementary product offering
for Beacon for many years, as well as our roofing business in key
markets. The insulation industry is fast-growing, will continue to be
buoyed by energy conservation regulatory changes, and has an overlapping
contractor base that provides great growth opportunities for Beacon both
where RIS and Beacon already are well-aligned geographically and where
RIS can expand, principally in the Western United States. RIS is a great
addition for Beacon."
About Beacon Roofing Supply, Inc.
Founded in 1928, Beacon Roofing Supply, Inc. (NASDAQ: BECN) is the
largest publicly traded distributor of residential and commercial
roofing materials and complementary building products, operating 360
branches throughout 45 states in the U.S. and six provinces in Canada.
To learn more about Beacon and its family of regional brands, please
visit www.becn.com.
RIS was advised in the transaction by Stephens, Inc.
"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 on Form
10-K for the most recently ended fiscal year.
BECN-F
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Beacon Roofing Supply, Inc.
Joseph Nowicki, 571-323-3940
Executive
Vice President & Chief Financial Officer
JNowicki@becn.com
Source: Beacon Roofing Supply, Inc.
News Provided by Acquire Media