Beacon Roofing Supply Completes North Coast Acquisition.PEABODY, Mass. -- Beacon Roofing Supply, Inc. (Nasdaq: BECN (Backward Explicit Congestion Notification) A frame relay message that notifies the sending device that a congestion avoidance procedure should be initiated. See FECN. ) ("Beacon") announced today that it has completed its previously announced acquisition of North Coast Commercial Roofing Systems, Inc. and certain of its subsidiaries and affiliates (together "North Coast"), a Twinsburg, Ohio-based distributor of commercial roofing systems and related accessories, with 16 locations in eight U.S. states. North Coast has branches in Ohio, Illinois, Indiana, Kentucky, Michigan, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pennsylvania and West Virginia. The purchase price paid was approximately $110.5 million in cash, after adjustments for North Coast's cash and other working capital. North Coast generated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $253 million for its latest completed fiscal year ended March 31, 2006. For more information on North Coast, you may visit: http://www.nccrs.com. For more information on Beacon, you may visit http://www.beaconroofingsupply.com. Robert Buck, Chairman, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Beacon, stated, "We are pleased to announce the completion of the North Coast acquisition and we look forward to an efficient integration, especially considering North Coast utilizes the same enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. system as Beacon. As we have come to know them more over these past few months, we are even more convinced that North Coast shares Beacon's core values. The combining of our talented employees provides additional opportunities for both Beacon and North Coast and is another significant step in our nationwide expansion." About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products, now operating 174 branches in 34 states and in Eastern Canada. For more information: David Grace, CFO See Chief Financial Officer. 978-535-7668 x14 "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release regarding Beacon Roofing Supply Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. |
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