Beacon Roofing Expands In Nevada Through Strategic Buyout

Beacon Roofing Supply Inc BECN announced the acquisition of Silver State Building Materials, Inc. in Nevada for undisclosed terms.

Silver State offers residential roofing and complementary products and serves the South Lake Tahoe and Reno markets.

"We are very pleased to welcome Silver State customers and employees. Our focus for the next chapter of this business will be on the customer experience, including tools like Beacon PRO+ to help our contractors build more," said Nevin Holly, Beacon's Regional Vice President, Pacific.

The acquisition aligns with Beacon's 2025 goals of driving above-market growth.  

Year to date, in 2023, the company has closed four acquisitions and opened five new locations to spread its branch footprint.

Last month, BECN reported Q1 2023 revenues of $1.73 billion, missing the consensus of $1.79 billion. 

As of March 31, 2023, the company's cash and equivalents stood at $74.2 million. 

Price Action: BECN shares are trading higher by 1.35% at $74.34 on the last check Monday.