HERNDON, Va.--(BUSINESS WIRE)--Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it has acquired Wholesale Roofing Supply (“WRS”), a distributor of residential roofing materials located in the Dallas, Texas suburb of Grand Prairie. From its nine-acre facility, WRS serves customers throughout the Dallas/Ft. Worth area and is expected to have sales of approximately $34 million in 2014.
Rick McLaughlin, WRS’s President who will continue to lead WRS for Beacon, stated: "The entire WRS team is excited to join Beacon, which has a strong, long-standing presence and excellent reputation in the Dallas/Ft. Worth market. Being part of Beacon will allow WRS to bring our customers new product offerings and enable our employees to share in Beacon’s continuing growth and success. The Potter family over the last 59 years has built a great company, and I want to thank them both for their years of support and for deciding to partner with Beacon to help secure WRS’s future.”
Nathan Potter, CEO of WRS’s parent company, said on behalf of his family: “We are so pleased to turn the reigns of WRS over to Beacon. We chose Beacon because of their reputation, our similar culture and values, and their desire to retain the current WRS team. Rick McLaughlin and his team have a bright future ahead as part of Beacon and will play an important role in Beacon’s continued growth in the Dallas/Ft. Worth market.”
Paul Isabella, Beacon’s CEO and President, emphasized the strategic fit of the acquisition and the compatibility of the two companies and stated, "WRS will be a great addition to our existing Dallas/Ft. Worth branches. It greatly broadens our footprint in the Dallas/Ft. Worth area and enables us to even better and more quickly serve the surrounding area customer base. Rick McLaughlin and his team will be a great addition to our Company and I am thrilled to welcome them to Beacon."
About Beacon Roofing Supply
Beacon Roofing Supply, Inc. is a leading distributor of residential and commercial roofing materials and complementary building products, with sales for the Company's 2013 fiscal year exceeding $2.2 billion. As of June 30, 2014, Beacon operated 254 branches in 40 states in the United States and six provinces in Canada. To learn more about Beacon and its family of regional brands, please visit www. becn.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 on Form 10-K for the most recently ended fiscal year.
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