HERNDON, Va.--(BUSINESS WIRE)--Jul. 16, 2018--
Beacon Roofing Supply, Inc. (Nasdaq: BECN) (“Beacon” or the “Company”),
the largest publicly traded distributor of roofing and complementary
building products in the United States and Canada, announced today that
it has acquired Atlas Supply, Inc. (“Atlas”), the Pacific Northwest’s
leading distributor of sealants, coatings, adhesives and related
waterproofing products. Founded in Seattle in 1917, Atlas has grown to
six locations, with stores in Seattle, Tacoma, Spokane, and Mountlake
Terrace in Washington, as well as locations in Portland, Oregon and
Boise, Idaho.
Atlas’ owners Jan Siers and John Ittes, who are retiring, stated:
“Joining Beacon presents a tremendous opportunity for our family and
Atlas’ loyal customers and employees. Beacon’s commitment to strengthen
its sealants and coatings business will enable Atlas to better serve our
customers with broader product offerings and even more efficient
service. We chose to align with Beacon because Beacon shares our work
ethic, business values, and customer-first mentality, and because Beacon
presented the greatest long-term growth opportunities for our family and
all of our employees. It was very important to us and we are thrilled
that Atlas will continue to be led by the current management team of
Tony Mazza, Todd Bennett, our daughter Jessica McIntosh, and TJ Cheney.
We are very excited for Atlas’ 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: "Atlas is a tremendous addition to Beacon and significantly
strengthens our sealant, coatings and waterproofing business in the
robust Pacific Northwest market. The Atlas acquisition enables Beacon to
serve customers along the entire west coast and a portion of the
Southwest and enhances our strategy to grow our strong margin
complementary products business. We are grateful that John and Jan
entrusted Beacon with the further growth and development of their great
company. We are excited to welcome the entire Atlas team to Beacon.”
About Beacon Roofing Supply
Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly
traded distributor of residential and commercial roofing materials and
complementary building products, operating 551 branches throughout all
50 states in the U.S. and 6 provinces in Canada. To learn more about
Beacon and its family of regional brands, please visit www.becn.com.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180716005723/en/
Source: Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc.
Joseph Nowicki, Executive VP & CFO
571-323-3940
JNowicki@becn.com