HERNDON, Va.--(EON: Enhanced Online News)--Beacon Roofing Supply (NASDAQ: BECN), the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, announced today that it has acquired Eco Insulation Supply (“EIS”), a distributor of insulation and related accessories serving Connecticut, Southern New England and the New York City metropolitan area from its location in Stamford, CT. EIS will provide new and important geographical reach to Beacon’s existing insulation business that grew significantly with Beacon’s acquisition of Roofing & Insulation Supply in December 2015.
EIS President Kevin Brown, who will remain with the Company, stated, "Joining forces with Beacon presents a unique opportunity for EIS to grow and better serve our customers. I selected Beacon because it presents the best avenues for advancement for EIS’s employees. Beacon’s commitment to its insulation business, along with Beacon’s size and relationships with the major insulation manufacturers, will open new doors for EIS and provide growth opportunities that we could not achieve independently. This is an exciting day for EIS and all of our employees.”
Paul Isabella, Beacon’s CEO and President, emphasized the strategic fit of the acquisition and the compatibility of the two companies, stating, "We are very excited that EIS has joined the Beacon family. EIS’s strong reputation with contractors in its markets will provide an excellent complement to Beacon’s insulation footprint, which we are committed to growing both through additional acquisitions of great companies like EIS and through strategic greenfield openings. I welcome Kevin Brown and all of EIS’s experienced employees and know that they will be great additions to Beacon.”
About Beacon Roofing Supply
Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, operating 373 branches throughout 47 states in the U.S. and 6 provinces in Canada. To learn more about Beacon and its family of regional brands, please visit www.becn.com.
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 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.