Beacon Roofing Supply, Inc. (NASDAQ: BECN) is a company based in America. This company is a traded in the NASDAQ market and specialize in selling commercial roofing ad residential roofing products, they also offer related building materials in North America. The organization right now comprise of 13 local organizations in 42 states and 6 Canadian Provinces, 273 areas and more than 2,800 workers. In addition to roofing, the local divisions sometimes sells windows, decking, siding, waterproofing, among other external building products. The organization is as of now headquartered in Herndon, Virginia
Beacon Roofing was introduced in the year 1928 at Charlestown, Massachusetts, and was named Beacon Sales Company. In the year 1953, the organization had grown too big for its residence in Massachusetts, and established another office in Somerville vicinity. In the 1970s, the organization extended to Lewiston, Maine and Worcester, Massachusetts. In 1984, Andrew Logie purchased a majority interest in the organization. At that time, the overall sales were just about $17 million, basically all in commercial roofing. Not long after Logie became the CEO, David Grace joined Beacon as the organization’s Chief Financial Officer. During Logie’s residency, the organization opened new branches all through the United States, and ventured into residential roofing and commercial roofing. By 1997, seven branches were producing $72 million in annual sales.
In the year 1997, the equity firm Code, Hennessy & Simmons III, L.P. acquired a majority interest for the organization. They re-branded it as Beacon Roofing Supply, Incorporated. In 1998, Beacon, trying to obtain fruitful wholesalers, bought its first territorial brand, Quality Roofing Supply, a Pennsylvania based roofing merchant. From 1999 to 2000, Beacon proceeded with its acquisition of the regional roofing wholesalers by gaining Exeltherm Supply (Canada), Best Distributing in North Carolina, Groupe Bedard and Roof Center (Virginia and Maryland), as well as West End Lumber (Texas).
By 2002, Beacon had surpassed $500 million in income. Ahead of schedule in financial 2004, Robert R. Buck joined the organization and succeeded Andrew Logie as President and CEO. To get cash to develop the organization, Beacon opened up to the world with an initial public offering on the NASDAQ stock trade, on September 23, 2004. In 2005, The Wall Street Journal ranked Beacon as the 6th quickest developing new stock issue behind Google.
The organization kept on securing effective merchants across North America and drive organic development in existing operations. Within a period of three months of the IPO, Beacon procured Atlanta-based JGA Corp., which had offers of $74 million. In October 2005, Beacon’s made its biggest procurement by acquiring Shelter Distribution, a mid-western wholesaler with sales of $313 million and 50 branches. Other additions in 2005 and 2006 included Mississippi Roofing, Pacific Supply, Alabama Roofing, Minnesota’s Roof Depot, and RSM Supply in Arkansas, Missouri and Oklahoma.
Deals surpassed $850 million in financial 2005 and $1.5 billion in financial 2006. In April 2007, Beacon obtained North Coast Commercial Roofing Systems situated in Twinsburg, Ohio, which had sale in surplus of $250 million. This vital acquisition moved Beacon into three new states – Ohio, New York and West Virginia. As of right now, operations now incorporated 172 branches in 37 states and 3 Canadian regions.
In October of 2007, Beacon made an appointment of Paul M. Isabella as President and Chief Operating Officer.
Toward the end of 2010, Robert Buck surrendered the title of CEO to Paul Isabella while holding the title of Chairman of the Board.
In financial year 2011, Beacon expanded deals by 12.9% to a record $1.82 billion. The organization additionally extended further into Canada with the acquisitions of Enercon Products in May, a Western Canada roofing wholesaler with six location.
In financial year 2012, the organization surpassed $2 billion in deals for the first time. Amid 2012, the organization likewise made a few key acquisitions and opened a few new branches which extended its market coverage. In May of the year 2012, the organization obtained Philadelphia, Pittsburgh, headquartered Cassady Pierce that was established in 1947 and has six locations in and around Western Pennsylvania territory. A couple of weeks after the fact, the organization declared the opening of their 200th area in Myrtle Beach, South Carolina.
On July 1, 2012, Beacon obtained Southern California based Structural Materials Co. The acquisition dramatically multiplied the organization’s measure market penetration in the Southern California district.
Soon after financial year 2013 started, the organization procured McClure-Johnston Co. which extended the organization’s footprint in the Pennsylvania area.
In 2014, Beacon again extended its operations again by obtaining Wholesale Roofing Supply based out of Dallas, Texas, All Weather Products based out of Vancouver, and Applicators Sales & Service in New England.
Website : http://www.beaconroofingsupply.com/