Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it has acquired Structural Materials, Co. (“Structural”) , a distributor of residential and commercial roofing products and related accessories headquartered in Santa Ana, CA. Founded in 1948, Structural has six locations in Los Angeles and Orange Counties and in the surrounding areas, with total annual sales of approximately $81 million in 2011.
Paul Byrne, Structural’s retiring founder, stated "I am thrilled that Structural is becoming part of the Beacon family. I have known Beacon and its leadership team for many years and they share Structural’s belief that success comes from hard work and a full commitment to your customers and employees. Aligning with Beacon presented the best opportunity for Structural to continue its excellent history of customer service, expand its product offering and allow for continued profitable growth. Beacon also presents a great opportunity for our dedicated employees and their families to share in Beacon’s success as a large and fast-growing public company. I am very excited about Structural’s future with Beacon."
Paul Isabella, Beacon’s CEO and President, emphasized the strategic fit of the acquisition and the compatibility of the two companies and stated, "We long have believed that Structural would be an excellent complement to our existing Southern California branches, which are operating under the Pacific Supply name, and will make Beacon the leading roofing supply distributor in the important Southern California market. We want to thank Paul Byrne and his family for this opportunity to have Structural, with its experienced team, join forces with Beacon. We look forward to continuing and expanding their reputation for superlative customer service, which has been built through decades of hard work."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 206 branches in 38 states in the United States and across Canada. Website: www.beaconroofingsupply.com."Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Beacon Roofing Supply Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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