Beacon Roofing Buys Fox Brothers For Undisclosed Terms

Beacon Roofing Supply, Inc. BECN has acquired Fox Brothers Company for undisclosed terms and conditions. The acquired firm was a distributor of roofing, siding, windows, doors and related products with the headquarters in Lansing, Michigan.

Beacon Roofing President and CEO, Paul Isabella, has emphasized the tactical fit of the acquisition apart from the compatibility of the two companies. He stated, "We are very excited that Fox has joined the Beacon family. For over 30 years, Fox has built a reputation as a high quality supplier of residential roofing and related building materials that will strengthen our existing Michigan business. We are thrilled that the Fox family chose Beacon as the strategic partner that fit most with its values, would offer the greatest service to its customers and would provide the best career growth opportunities for its employees. Fox is a great strategic acquisition for Beacon."

Similarly, Fox President, Tom Fox, reacted to the acquisition stating, "Joining the Beacon team presents a tremendous opportunity for the entire Fox family and our loyal customers and employees. Beacon's national market strength and reputation will enable Fox to better serve our customers with broader product offerings and even more efficient deliveries. Fox's strong residential business will significantly broaden Beacon's ability to serve the residential building market across Michigan. As we evaluated potential strategic partners, we chose Beacon because Beacon shares our values, culture, and our belief that success comes from hard work and great customer service. I am very excited about our future at Beacon."

The acquired firm was Founded by Tom and Dan Fox more than three decades back. Since then, Fox has grown to four branches, with locations in Lansing, Grand Rapids, Kalamazoo and Howell, Michigan.

On Monday, shares of the company traded 0.54 percent higher.