Apr 15 2010
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon" or the “Company”) announced today that it has acquired Phoenix Sales, Inc. (“Phoenix”), a distributor of commercial roofing systems and related accessories with four branches located in Tampa, Orlando, Pompano and Ft. Myers, Florida and sales of approximately $20 million in 2009.
Scott Hall and Jim Coston, who co-founded Phoenix, will remain part of Beacon’s regional leadership team. Mr. Hall stated, "We are very excited to join Beacon as it expands its presence in the Florida market. Joining Beacon will enable Phoenix to better serve our customers in many ways, including through expanded product offerings.” Jim Coston added, “Joining Beacon also presents a fantastic opportunity for our employees, as Beacon’s size and reputation in the industry will allow us to grow our business, which will benefit the entire Phoenix team."
Paul Isabella, Beacon’s President and COO, emphasized the strategic fit of the Phoenix acquisition to Beacon’s growth in Florida and stated, "We are very excited to have Phoenix and its experienced commercial roofing team join Beacon. We now have a strong commercial roofing presence in Central Florida to accompany our recently-acquired residential roofing business. Florida presents a great long-term growth opportunity for our Company and we are committed to expanding our footprint in Florida. The team at Phoenix shares our work ethic, Company values, and dedication to customer service and we are proud to have them join Beacon.”
Source: http://www.beaconroofingsupply.com/