PEABODY, Mass.--(BUSINESS WIRE) Beacon Roofing Supply, Inc.
(Nasdaq: BECN) announced today the acquisition of Insulation
Systems, Inc. ("ISI"), a distributor of commercial
roofing and other complementary building products with locations
in Roanoke and Virginia Beach, Va.
ISI is a successful and growing company and
represents an excellent opportunity for Beacon to expand its
commercial distribution business further into the attractive
Virginia market. ISI was founded in 1987 and generated net
sales of approximately $19 million for the year ended December
31, 2004.
Jack Smith, President of ISI, stated, "Our
associates are excited about joining a growing and successful
public company such as Beacon and we look forward to working
with the Beacon associates to help grow their commercial roofing
business."
Robert Buck, CEO of Beacon, stated, "Jack
has built an outstanding company with an excellent leadership
team. ISI will strengthen our commercial business in the southeastern
region of the United States. They have hard-working employees
who share our commitment to quality products and customer
service."
About Beacon Roofing Supply Inc.:
Beacon Roofing Supply, Inc. is a leading
distributor of roofing materials and complementary building
products operating 79 branches in key metropolitan markets
in the Northeast, Mid-Atlantic, Southeast and Southwest regions
of the United States and in Eastern Canada.
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 "Risks Relating to Our Business
and Industry" 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. |