Beacon Roofing Supply announced Thursday that it will acquire Cassady Pierce Company, a Pittsburgh-based building products distributor with six area locations and annual sales of approximately $52 million.
"Cassady Pierce is an industry leader in western Pennsylvania and allows Beacon to expand our presence in that very important market beyond our existing North Coast Pittsburgh branch,” said Beacon’s CEO and president, Paul Isabella, in a statement. Cassady Pierce president, Bill Vernal, will retain his position and join Beacon’s regional management team.
The Peabody, Mass.-based roofing distributor was third on this year’s ProSales 100 survey, reporting $1.8 billion in sales to the pros for the year ended September 31. Beacon posted net earnings of $59 million for the year, up 73% from the prior year’s $34 million. The company operates 193 branches in 38 states across the U.S. and Canada.