PEABODY,
Mass.--(BUSINESS WIRE) Beacon Roofing Supply, Inc. (Nasdaq:
BECN) announced today the acquisition of JGA Corporation,
a leading distributor of roofing and other building products
headquartered in Atlanta, Georgia.
JGA operates eight facilities in Georgia
and Florida offering a comprehensive line of residential and
commercial roofing products and other complementary building
products. It is a highly successful and fast growing company
and represents an excellent opportunity for Beacon to expand
its distribution business into the very attractive Georgia
and Florida markets. These markets are projected to be some
of the fastest growing markets in the United States over the
next 2-3 years.
Most importantly, JGA has a knowledgeable
and motivated management team that has produced outstanding
results during its long history. JGA and Beacon share similar
values and corporate culture focused on developing employees
and providing the best products and services to customers.
Consistent with Beacon's other successful acquisitions, the
JGA facilities will continue operating under their local identity
to continue the close relationships they have developed with
their customers. JGA was founded in 1977 and generated net
sales of approximately $74 million for the year ended December
31, 2003.
John Blackburn, CEO of JGA, stated, "Our
management team is excited about the growth opportunities
that are available as we combine our talents and resources
with Beacon."
Robert Buck, CEO of Beacon, emphasized the
overall strategic importance of JGA and stated, "JGA
is a respected leader in our industry and operates in some
of the most attractive markets in the U.S. They have wonderful
employees and we are thrilled to be joining forces."
About Beacon Roofing Supply Inc.
Beacon Roofing Supply, Inc. is a leading
distributor of roofing materials and complementary building
products 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 "Risk Factors" section of
the Company's S-1 Registration Statement. 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. |