HERNDON, Va.--(BUSINESS WIRE)--Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it has acquired ProCoat Systems, Inc. (“ProCoat”), a distributor of residential and commercial exterior building materials including stucco, stone, waterproofing and concrete restoration. Founded in 1984 by brothers Jim, Marty and Randy Diner, ProCoat has branches in Denver and Ft. Collins, Colorado.
Jim Diner, who along with Marty and Randy will continue to co-manage the business for Beacon, stated: "My brothers and I are pleased to join forces with Beacon which has built a tremendously successful presence in the Denver and surrounding markets. Being part of the Beacon team will allow ProCoat to continue our long history of excellent customer service and to introduce our products to Beacon’s existing customer base across the entire Rocky Mountain footprint. We were presented with many strategic opportunities, but we chose to align with Beacon not only because of its size and reputation in the industry, but because Beacon shares our belief that success comes from hard work and a commitment to your employees and customers. We are very excited about our 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, "ProCoat has been the leading distributor of stucco, stone, waterproofing and related products in the Rocky Mountain region for over three decades. The addition of ProCoat will enable Beacon to strengthen our complementary product offerings both to our customers in the Denver and the surrounding markets and elsewhere in the United States and Canada where these products are important to the commercial and residential building materials markets. The ProCoat acquisition exemplifies Beacon’s long-standing strategy to grow and increase profitability for our shareholders by expanding product offerings across the entire commercial and residential building envelope. I am grateful that Jim, Marty and Randy Diner chose to join Beacon, and I am thrilled to welcome ProCoat to our team."
About Beacon Roofing Supply, Inc.
Founded in 1928, Beacon Roofing Supply, Inc. (NASDAQ: BECN) is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, operating 273 branches throughout 42 states in the U.S. and six provinces in Canada. In fiscal 2014, Beacon had sales of $2.3 billion. The company employs more than 3,000 associates. 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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