HERNDON, Va.--(BUSINESS WIRE)--Beacon (Nasdaq: BECN), the only publicly traded specialty roofing and complementary products distributor, announced today that it signed a purchase agreement to acquire Smalley & Company, headquartered in Denver, CO with eleven locations in Colorado, Arizona, California, Nevada, New Mexico and Utah. Smalley is a privately held company, which is 100% owned by an Employee Stock Ownership Plan and Trust (“ESOP”). Closing the contemplated transaction requires a majority vote of the plan’s Participants giving the ESOP Trustee authorization to approve the sale.
Smalley & Company has been providing contractors, design professionals, and owners with tailored sealant and waterproofing solutions since 1967. Smalley & Company has become an industry leader through its dedication to being a vital link in the supply chain to contractors that perform a wide range of applications in the new construction and restoration markets.
“The team’s technical know-how is at the top of the industry, and we look forward to closing this acquisition, so that we can welcome Smalley employees to Beacon and begin serving customers with our expanded products and services,” said Martin Harrell, Beacon’s Division President, Waterproofing.
Forward-Looking Statements
This press release contains information about management's view of Beacon's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of Beacon's latest Form 10-K and subsequent filings with the SEC. In addition, the forward-looking statements included in this press release represent Beacon's views as of the date of this press release and these views could change. However, while Beacon may elect to update these forward-looking statements at some point, Beacon specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing Beacon's views as of any date subsequent to the date of this press release.
About Beacon
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 530 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.
