Beacon Announces Two Acquisitions: Al’s Roofing Supply and Prince Building Systems

Rhea-AI Summary

Beacon (Nasdaq: BECN) has successfully completed the acquisitions of Al’s Roofing Supply, Inc. and Prince Building Systems, LLC, enhancing its residential building products services in California and the Midwest. Al’s, with over 40 years of experience, operates four branches in the San Francisco Bay Area, while Prince Building Systems serves several Midwest states including Wisconsin and Illinois. These acquisitions align with Beacon's 'Ambition 2025' goals, focusing on strategic growth and service expansion to an extensive customer base. Both companies will leverage Beacon’s network to enhance service offerings and operational capabilities.

Positive

• Acquisition of Al’s Roofing Supply enhances presence in California.
• Acquisition of Prince Building Systems strengthens service reach in the Midwest.
• Both acquisitions align with 'Ambition 2025' growth strategy.
• Increased capacity to serve nearly 100,000 customers through expanded services.

Negative

• None.

Adds residential building products services in California and the Midwest

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has completed two acquisitions, Al’s Roofing Supply, Inc. (“Al’s”) of Hayward, California, and Prince Building Systems, LLC (“Prince Building Systems”) of Neillsville, Wisconsin.

Al's Roofing Supply (Graphic: Business Wire)

Al’s has over 40 years of history serving the San Francisco Bay Area, operating four branches in Hayward, Newark, San Carlos, and San Jose. “We are thrilled to announce that Al’s is joining Beacon,” said Kevin Lewis, General Manager at Al’s. “This next chapter of our history will enable us to continue serving our loyal customers and to grow by bringing the benefits of Beacon’s footprint and network.”

“The trusted relationships Kevin and the team have built will endure and deepen as their capabilities expand as part of Beacon,” added Nevin Holly, Beacon’s Regional Vice President, Pacific.

For more than 10 years lumberyard customers have relied on Prince Building Systems in Illinois, Iowa, Michigan, Minnesota, and Wisconsin. “Prince Building Systems is excited to join Beacon and provide customers both a broader range of services and a larger geography,” said Steve Binder, Prince Building Systems’ President & CEO.

“We are proud to embrace the customers who rely on Prince Building Systems and deliver to them the additional capabilities of Beacon’s industry leadership,” added Clint Wade, Beacon’s National Vice President focused on lumberyards and rural customers.

These acquisitions to our residential line of business propel us further toward our Ambition 2025 goals. Combined, they deliver on the above-market growth vector of our plan, which has already yielded three greenfields and an acquisition in 2023.

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 480 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/20230403005169/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 significance of Beacon's acquisition of Al's Roofing Supply in 2023?

The acquisition enhances Beacon's residential building products services in California with over 40 years of established presence.

How does the acquisition of Prince Building Systems impact Beacon's operations?

It expands Beacon's service capabilities in several Midwest states, thus broadening its market reach.

What are Beacon's 'Ambition 2025' goals?

The goals focus on strategic growth, which the recent acquisitions support through enhanced service offerings.

How many customers does Beacon serve after these acquisitions?

Beacon serves nearly 100,000 customers across its expanded branch network.