Beacon Announces Acquisition of Roofers Supply of Greenville

Rhea-AI Summary

Beacon (Nasdaq: BECN) has completed the acquisition of Roofers Supply of Greenville, expanding its service geography and design services in the Carolinas. The acquisition aims to drive above market growth for existing and new customers, as Beacon continues to pursue its goal of becoming the top commercial roofing distributor in North America. The company exceeded its revenue and shareholder return targets for 2023 and is making strides towards achieving its Ambition 2025 plan.

More locations and increased service for commercial contractors in the Carolinas

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has completed the acquisition of Roofers Supply of Greenville (“Roofers Supply”) headquartered in Greenville, SC with two additional branches located in Charlotte, NC and Raleigh, NC.

Roofers Supply

Roofers Supply has a more than 40-year history in commercial roofing throughout the southeast. “We are excited to join the Beacon team. Our contractors and employees will benefit from combining our expertise, scope, and size,” commented Chris Causey, President. “Contractors will continue to have a partner with a relentless focus on commercial roofing and the value-added services that help them to build more.”

“This acquisition grows our service geography and design services in the Carolinas, particularly for commercial roofers. Chris and the Roofers Supply team deliver unparalleled technical knowledge, product range and service reliability. We will leverage this foundation to drive above market growth for our existing and new customers,” added Munroe Best, Beacon’s Division President, South.

Beacon completed nine acquisitions in 2023. This is the first acquisition announced in 2024 as the company continues to drive above market growth and takes steps to realize its goal of being the top commercial roofing distributor in North America. The Company exceeded its Ambition 2025 revenue and shareholder return targets for 2023 and continues to advance on achieving its full Ambition 2025 plan.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 530 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240131049790/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets and Treasurer

Binit.Sanghvi@becn.com

972-369-8005

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

Jennifer.Lewis@becn.com

571-752-1048

Source: Beacon

FAQ

What is the ticker symbol for Beacon?

The ticker symbol for Beacon is BECN.

What is the recent acquisition announced by Beacon?

Beacon has completed the acquisition of Roofers Supply of Greenville, with additional branches in Charlotte, NC and Raleigh, NC.

How many acquisitions did Beacon complete in 2023?

Beacon completed nine acquisitions in 2023.

What are Beacon's goals for the future?

Beacon aims to become the top commercial roofing distributor in North America and is working towards its Ambition 2025 plan.