Beacon Roofing Supply Announces Acquisition of Portland, ME-Based Applicators Sales & Service
Beacon Roofing Supply, Inc. (Nasdaq: BECN) announced today that it has acquired Applicators Sales & Service (“Applicators”), a distributor of primarily residential roofing, siding, windows and related accessories with its headquarters in Portland, Maine. Founded in 1958 by David Koocher and Jerry Robinov, Applicators has remained owned by the Koocher and Robinov families with four branches in Maine (Portland, Bangor, Augusta and Auburn), one in Salem, New Hampshire and annual sales of approximately $48 Million.
Scott Koocher, Applicators’s President, stated: “The Koocher and Robinov families have built a great business and now are pleased to pass the torch to Beacon, which will allow Applicators to continue its long history of excellent customer service, expand its product offering and allow for continued profitable growth. We were presented with many strategic opportunities, but we chose to align with Beacon not only because of its size and reputation in New England and across the industry but because Beacon shares our belief that success comes from hard work and a commitment to your employees and customers. We are very excited about our future 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, “Applicators has an over 50-year history of superior customer service in Maine and New Hampshire and will further strengthen Beacon’s presence in northern New England. The Koocher and Robinov families have built a great team and I am thrilled to welcome Applicators to Beacon.”
About Beacon Roofing Supply
Beacon Roofing Supply, Inc. is a leading distributor of residential and commercial roofing materials and complementary building products, with 254 branches in 40 states in the United States and six provinces in Canada as of June 30, 2014.
“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 on Form 10-K for the most recently ended fiscal year.
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