Trade Beacon Roofing Supply
Beacon (NASDAQ: BECN) is a U.S. listed company that sells residential and non-residential roofing products, as well as related construction products in North America. As of January 2, 2018, as of January 2, 2018, with the completion of its acquisition of Allied Building Products, the company had 589 locations in all 50 states, six Canadian provinces, and more than 8,500 employees. In addition to roofing, local sections may also sell windows, alignment, decking, waterproofing, and other outdoor construction products. The company is currently headquartered in Herndon, Virginia. Bacon was founded in 1928 in Charleston, Massachusetts, as a Beacon sales company. By 1953, the company had moved beyond its building in Charleston and built a new facility in nearby Somerville. In the 1970s, the company expanded to Worcester, Massachusetts, and Lewiston, Maine. In 1984, Andrew Logie bought a majority interest in the company. At the time, sales were about $17 million, almost all in commercial roofing. Shortly after Logie became CEO, David Grace joined Bacon as the company's chief financial officer. During Logie's tenure, the company opened new branches throughout the United States and expanded into residential roofing as well as commercial roofing. By 1997, seven branches generated $72 million in annual sales in 1997, and shares company Cod, Hennessy & Simmons III, L.P. bought a majority stake in the company. Reclassified as Beacon Roofing Supply, Inc. in 1998, Beacon bought, in an effort to acquire successful distributors, its first regional brand, Quality Roofing display, Pennsylvania-based roofing distributor. From 1999 to 2000, Bacon continued to purchase regional roofing distributors by obtaining the best distribution (North Carolina), Groupe Bedard and Exeltherm Supply (Canada), Roof Center (Maryland and Virginia), and West End Timber (Texas).