Beacon lights up acquisition scene, again
Beacon added two new companies to its roster in July: Structural Materials Co. in Southern California and Contractors Roofing & Supply Co. in St. Louis.
The appetite for acquisition remains unsated.
“We are confident that we will add other quality companies in the near future that fit our target acquisition profile,” said CEO Paul Isabella during Beacon’s third-quarter earnings call.
If the past is any indicator, that profile includes such companies as Cassady Pierce, Fowler & Peth and Nova Scotia-based The Roofing Connection, acquired in May 2012, November 2011 and October 2011, respectively.
Beacon’s third-quarter sales of $560.5 million — although up 3.7% — were hurt by lower non-residential roofing activity and less residential roofing activity in the markets affected by last spring’s hail storms, partially offset by the benefit of higher average selling prices.