Beacon Roofing Supply, the No. 3 LBM dealer on the ProSales 100, announced late today that it has acquired Canada's Posi-Slope Enterprises Inc. and its sister company, Posi-Pentes, which specialize in the design and fabrication of tapered roof insulation systems.
Posi-Slope has two locations, in the provinces of Ontario and Quebec, and services customers throughout Canada, Peabody, Mass.-based Beacon said in a statement. Tapered roof insulation systems reduce or remove standing water on a roof deck when the existing roof deck isn't sloped enough to shed the water.
"Acquiring Posi-Slope will establish Beacon as a tapered design leader throughout Canada, and allow us to expand our presence in the province of Ontario and to better serve our existing commercial roofing customers," Paul Isabell, Beacon's president and CEO, said a statement. Beacon already has operations in Ontario and Quebec as well as in Manitoba, plus 37 U.S. states.
Louis Zammit will remain president of Posi-Slope. "I am pleased for Posi-Slope and our employees to continue as part of the Beacon family," he said. "This will allow us to better serve our existing tapered insulation customers across Canada and expand our reach to Beacon's customers."
Beacon ranks third on the latest ProSales 100 rankings with sales in 2009 of $1.73 billion. On May 7, the company reported a loss of $6.5 million in the company's fiscal second quarter ended March 31. That's nearly triple its $2.4 million in fiscal 2009's second quarter. For the first half of fiscal 2010, the company's net income shrank to $1.4 million from $16.2 million in 2009. The company said the lower net income was due to a 10.6% decline in sales to $285.4 million and a lower gross margin rate, partially offset by lower expenses.