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Beacon (Nasdaq: BECN) has completed the acquisition of Whitney Building Products, LLC, a distributor of waterproofing products based in Boston, Massachusetts. Established in 1946, Whitney enhances Beacon’s footprint in New England, bringing over 200 years of combined experience. This acquisition supports Beacon's Ambition 2025 growth targets by expanding its waterproofing services to over 30 branches nationwide, providing new career opportunities and enhanced customer service effectiveness.
Positive
Acquisition of Whitney Building Products expands Beacon's market presence in New England.
Enhanced waterproofing service with over 30 dedicated branches throughout the U.S.
Acquisition aligns with Beacon's Ambition 2025 growth strategy.
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None.
Adds specialty waterproofing location in New England
HERNDON, Va.--(BUSINESS WIRE)--
Beacon (Nasdaq: BECN) (the “Company”) announced today that it has completed the acquisition of Whitney Building Products, LLC (“Whitney”), a distributor of commercial and multifamily waterproofing and restoration products located in Boston, Massachusetts.
(Graphic: Business Wire)
Whitney has served the construction and restoration industry in New England since 1946 and has over 200 years of combined experience on its team.
“We are thrilled to announce that Whitney is joining Beacon,” commented Brendan Byrne, President of Whitney. “We believe this next chapter of our history will enable us to continue serving our loyal customers and bring them the benefits of Beacon’s scale, especially given their recent acquisition of Coastal. The trusted relationships we have built will endure and grow as our capabilities expand as part of the Beacon team.”
“We could not be more pleased to welcome Whitney’s employees and customers,” commented Martin Harrell, Beacon’s President, Waterproofing Division. “We now have over 30 dedicated waterproofing branches across the U.S. providing tremendous depth of specialty waterproofing service to customers as well as career opportunities for employees. In addition, this acquisition demonstrates the continued expansion of our footprint consistent with achieving our Ambition 2025 growth targets.”
Forward-Looking Statements
This press release contains information about management’s view of Beacon’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. In addition, the forward-looking statements included in this press release represent Beacon’s views as of the date of this press release and these views could change. These forward-looking statements should not be relied upon as representing Beacon’s views as of any date subsequent to the date of this press release.
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 470 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.
