Beacon Roofing Supply announced today it had acquired Structural Materials Co., a distributor of residential and commercial roofing products based in Santa Ana., Calif., with six locations in Los Angeles and Orange counties.
The deal for Structural, which racked up $81 million in sales in 2011, came the same day that Peabody, Mass.-based Beacon announced it had opened its 200th facility: a new branch in Myrtle Beach, S.C., of its Best Distributing stores.
"We long have believed that Structural would be an excellent complement to our existing Southern California branches, which are operating under the Pacific Supply name, and will make Beacon the leading roofing supply distributor in the important Southern California market," Beacon CEO and president Paul Isabella said in a statement.
Paul Byrne, who founded Structural in 1948 and who plans to retire, said in a Beacon-issued statement that "Aligning with Beacon presented the best opportunity for Structural to continue its excellent history of customer service, expand its product offering, and allow for continued profitable growth."
Beacon ranked third in this year’s ProSales 100, recording $1.88 billion in professional sales. On May 10, it reported net income of $3.1 million in the fiscal second quarter ended March 31, turning around from a net loss of $6.2 million during the same period a year ago. Net sales jumped 33% to $395.2 million.
The company reported 192 locations at of the end of 2011. Since then, aside from the Myrtle Beach facility, it added six locations in western Pennsylvania via the acquisition of Cassady Pierce and opened one location in Lake Charles, La. Beacon now has stores in 38 states in the United States and several Canadian provinces.