Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it has acquired Ford Wholesale Co. of San Jose (“Ford Wholesale”), a distributor of residential and commercial roofing and related accessories with three locations in Northern California, and Construction Materials Supply (“CMS”), a distributor of mostly residential roofing products with two locations in Northern California. With the two acquisitions, Beacon will add branches in San Jose, Oakland, Livermore and two in Sacramento and sales of approximately $60 million.
Ford Wholesale’s President and CEO Jim Ornellas, who will remain with the Company, stated “I believe that joining Beacon presents new opportunities for Ford Wholesale, our customers and our employees. Beacon’s size and reputation in the industry will allow us to better serve our customers and expand our product offering to help better serve the professional roofing contractor. I am very excited about Ford Wholesale’s future.”
CMS’s President Peter Clark, who also will remain with the company, stated “Teaming-up with Beacon presented the best opportunity for CMS to grow our business and introduce new product lines to our customers. The entire CMS team looks forward to joining forces with Beacon and sharing in its growth as it expands into Northern California and beyond. I am very excited for the future of CMS.”
Paul Isabella, Beacon’s President and Chief Executive Officer, emphasized the strategic fit of Ford Wholesale and CMS, the new geography that the acquisitions bring to Beacon, and the compatibility of the three companies. He stated: "We are very excited to welcome Ford Wholesale and CMS and their experienced teams to Beacon. These acquisitions allow Beacon to enter the attractive Northern California market in a substantial way and continue to expand our footprint in that state. We now have nearly quadrupled the California branches we had just six months ago.. Equally important is that the CMS and Ford Wholesale teams share our belief that success comes from hard work and a strong commitment to your employees and customers."
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