Beacon Roofing Supply Announces Acquisition of Eco Insulation Supply of Stamford, CT
10 January 2017 - 2:35AM
Business Wire
Beacon Roofing Supply (NASDAQ: BECN), the largest publicly
traded distributor of residential and commercial roofing materials
and complementary building products, announced today that it has
acquired Eco Insulation Supply (“EIS”), a distributor of insulation
and related accessories serving Connecticut, Southern New England
and the New York City metropolitan area from its location in
Stamford, CT. EIS will provide new and important geographical reach
to Beacon’s existing insulation business that grew significantly
with Beacon’s acquisition of Roofing & Insulation Supply in
December 2015.
EIS President Kevin Brown, who will remain with the Company,
stated, "Joining forces with Beacon presents a unique opportunity
for EIS to grow and better serve our customers. I selected Beacon
because it presents the best avenues for advancement for EIS’s
employees. Beacon’s commitment to its insulation business, along
with Beacon’s size and relationships with the major insulation
manufacturers, will open new doors for EIS and provide growth
opportunities that we could not achieve independently. This is an
exciting day for EIS and all of our employees.”
Paul Isabella, Beacon’s CEO and President, emphasized the
strategic fit of the acquisition and the compatibility of the two
companies, stating, "We are very excited that EIS has joined the
Beacon family. EIS’s strong reputation with contractors in its
markets will provide an excellent complement to Beacon’s insulation
footprint, which we are committed to growing both through
additional acquisitions of great companies like EIS and through
strategic greenfield openings. I welcome Kevin Brown and all of
EIS’s experienced employees and know that they will be great
additions 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 373
branches throughout 47 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.
BECN-F
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version on businesswire.com: http://www.businesswire.com/news/home/20170109005915/en/
Beacon Roofing Supply, Inc.Joseph Nowicki, Executive VP &
CFO571-323-3940JNowicki@becn.com
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