Virginia-based roofing and building products distributor Beacon has kicked off the new year by announcing two acquisitions less than a day apart. Beacon acquired Whitney Building Products, LLC on Jan. 3 and First Coastal Exteriors, LLC on Jan. 4.
Financial details were not disclosed for either transaction. Beacon ranked No. 5 on MDM’s 2022 Top Building Materials/Construction Distributor list.
Founded in 1946, Whitney Building Products is a distributor of waterproofing and restoration products located in Boston. Whitney serves the construction and restoration industries in New England.
“We believe this next chapter of our history will enable us to continue serving our loyal customers and bring them the benefits of Beacon’s scale, especially given their recent acquisition of [Coastal Construction Products],” Whitney President Brendan Byrne said. “The trusted relationships we have built will endure and grow as our capabilities expand as part of the Beacon team.”
MDM’s M&A Virtual Summit, to be held Feb. 21-22, has something to offer for any distributor on the dealmaking spectrum. We’ll cover the current state of M&A; how to maximize valuation; integration do’s and don’ts; ESOPs; the culture side of the M&A process; and more. Get details and register here.
“We could not be more pleased to welcome Whitney’s employees and customers,” said Martin Harrell, President of Beacon’s Waterproofing Division. “We now have over 30 dedicated waterproofing branches across the U.S. providing tremendous depth of specialty waterproofing service to customers as well as career opportunities for employees.”
First Coastal Exteriors is a distributor of complementary residential and commercial building products such as siding, gutter products and windows. The business has locations in Mobile, Alabama, and Pearl, Mississippi.
“We are thrilled to welcome First Coastal employees and customers,” said Lynn France, Beacon’s Regional Vice President — Southeast. “Our joint resources in the Alabama and Mississippi markets will broaden the product offering, allowing customers to grow their businesses while expanding career opportunities for all employees.”
The acquisitions of Whitney and First Coastal continue a busy winter for Beacon, which also acquired Jacksonville, Florida-based Coastal Construction Products in November.
See MDM’s Investment Bank Directory for a rundown of the key investment banks and advisory firms in the distribution sector.