Beacon Announces Acquisition of S&H Building Material Corporation

Rhea-AI Summary

Beacon completes acquisition of S&H Building Material Corporation, expanding its presence in the Long Island market.

Positive

• Expanding depth of service in Long Island market
• Opportunity for S&H customers to benefit from digital solutions, TRI-BUILT product line, and Beacon OTC® network
• Year-to-date expansion through acquisitions and new locations

Negative

• None.

Long Island, NY contractors to benefit from additional location, products and services

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has completed the acquisition of S&H Building Material Corporation (“S&H”) of Medford, NY.

S&H has built a five-decade legacy serving Long Island builders, contractors, and homeowners. “We are thrilled to announce S&H is joining Beacon. We believe this next phase of our history will enable us to continue serving our loyal customers well into the future,” commented Brian Rosenstein, President, S&H.

“We are pleased to welcome S&H’s employees and customers to the Beacon team,” said David Doran, Beacon’s Regional Vice President, North Atlantic. “Expanding our depth of service in the Long Island market will bring S&H customers the opportunity to benefit from our digital solutions, TRI-BUILT product line and the Beacon OTC® network.”

Year to date in 2023, Beacon has expanded its branch footprint through the completion of seven acquisitions and the opening of 14 new greenfield locations. Serving customers in these many new locations is delivering our Ambition 2025 goal to drive above market growth.

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 500 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/20230905499623/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