Beacon Roofing Supply To Acquire Pittsburgh, PA-Based McClure-Johnston
PEABODY, Mass. -- October 22, 2012
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it
has reached an agreement to acquire McClure-Johnston Company
(“McClure-Johnston”), a distributor of residential and commercial roofing
products and related accessories headquartered in the Pittsburgh suburb of
Braddock, Pa. Founded in 1914, McClure-Johnston has 14 locations with eight in
Pennsylvania, three in West Virginia, one in Western Maryland and two in
Georgia. Annual sales are approximately $85 million. Closing on the
transaction is expected on or before November 1, 2012, and is to occur
simultaneously with the execution of a definitive purchase agreement.
Brian Hogan, McClure-Johnston’s President stated: "We are very excited to join
Beacon, which presents a great opportunity for McClure-Johnston to continue
our long tradition of customer service and to expand our product offerings.
Both my family and our ownership partners in the Oxenreiter family have known
Beacon’s leadership team for many years and easily concluded that of all the
possible merger partners in the industry, Beacon best fit McClure-Johnston’s
culture of hard work, integrity, and a commitment to employees and customers.
I look forward to leading our dedicated and knowledgeable staff as we join
forces with Beacon."
Paul Isabella, Beacon’s CEO and President, emphasized the strategic fit of the
acquisition and the compatibility of the two companies and stated, "For nearly
a century, McClure-Johnston has been a leader in the industry. We are very
excited that the Hogan and Oxenreiter families chose to align the great
company they have built together with Beacon as we continue our expansion in
these key markets and beyond. We are very pleased to welcome them and the
entire experienced and highly-regarded McClure-Johnston team to the Beacon
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading
distributor of roofing materials and complementary building products currently
operating 210 branches in 38 states in the United States and across Canada.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Beacon Roofing Supply Inc.'s
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained
in the forward-looking statements, see "Risk Factors" in the Company's Annual
Report or Form 10-K for the most recently ended fiscal year.
Beacon Roofing Supply, Inc.
David Grace, 978-535-7668 x14
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