October 2, 2022


Who is Business

Beacon Completes Divestiture of Interior Solutions Company

4 min read

HERNDON, Va.–(Small business WIRE)–Feb 10, 2021–

Beacon (Nasdaq: BECN) (the “Company”) announced today the successful completion of the earlier announced sale of its inside products and insulation corporations (“Interior Products”) to Foundation Creating Supplies (“FBM”), majority-owned by affiliates of American Securities LLC, a main U.S. personal equity organization. The money sale value of $850 million is issue to sure net doing the job capital and other adjustments.

The Interior Products and solutions divestiture accelerates the Company’s ongoing efforts to make improvements to its fiscal adaptability and enhances its means to pursue strategic progress initiatives in its main exteriors business. The Organization intends to use the expected following-tax proceeds of about $750 million from this divestiture to lessen net leverage, improve its stability sheet and make investments for expansion.

“Finalizing the sale of Interior Products and solutions signifies a transformational party for our Firm,” stated Julian Francis, Beacon’s President and Main Govt Officer. “As we concentration on growing our main exteriors small business, proceeds from the sale substantially greatly enhance our fiscal overall flexibility. Our total corporation is now dedicated to increasing profits and enhancing the profitability of our exteriors business. We respect the cooperative attempts of the Beacon, American Securities and FBM teams to speedily complete this transaction. We are grateful to the Inside Products and solutions staff members for their strong devotion to consumer service while element of Beacon and search ahead to observing their continued achievement.”

“This transaction significantly expands our presence in a lot of markets all over the United States and provides desirable prospects to generate earnings and revenue advancement while delivering significant lengthy-term positive aspects to our customers, sellers, staff members and the communities we provide,” explained Ruben Mendoza, President and CEO of FBM. “FBM has extended been just one of the most significant specialty constructing products distributors of interior items, and we seem ahead to bringing jointly these two great firms.”

About Beacon

Launched in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary developing goods in North America, operating over 400 branches in the course of all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an intensive foundation of above 90,000 shoppers, using its extensive branch community and diverse support offerings to provide significant-high quality merchandise and help through the complete organization lifecycle. Beacon gives its personal private label model, TRI-Constructed, and has a proprietary digital account administration suite, Beacon Professional+, which enables clients to take care of their companies on line. Beacon’s stock is traded on the Nasdaq World Decide on Sector underneath the ticker symbol BECN. To understand extra about Beacon, remember to pay a visit to www.becn.com.

About Foundation Building Components

Basis Creating Components, Inc. is a specialty setting up products and solutions distributor of wallboard, suspended ceiling devices, metal framing, and complementary and other products and solutions in the course of North The usa. Based in Santa Ana, California, the Corporation employs much more than 4,600 staff members and operates extra than 250 branches throughout the United States and Canada. Learn a lot more at www.fbmsales.com or stick to us on LinkedIn, Twitter, Instagram, or Facebook.

About American Securities

Primarily based in New York with an office environment in Shanghai, American Securities is a primary U.S. personal fairness company that invests in current market-major North American companies with yearly revenues commonly ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA. American Securities and its affiliate marketers have roughly $23 billion less than management. For much more information and facts, pay a visit to www.american-securities.com.

Forward-On the lookout Statements

This release incorporates information and facts about management’s view of Beacon’s future expectations, programs, and potential customers that represent forward-seeking statements for applications of the protected harbor provisions less than the Private Securities Litigation Reform Act of 1995. You can establish ahead-on the lookout statements by the truth that they do not relate strictly to historic or recent points and generally use words and phrases these as “anticipate”, “estimate”, “expect”, “believe”, “will probably result”, “outlook”, “project” and other words and expressions of very similar meaning. Precise outcomes may well vary materially from people indicated by these kinds of ahead-hunting statements as a outcome of many critical components, which include, but not minimal to, people set forth in the “Risk Factors” section of Beacon’s most recent Form 10-K. In addition, the ahead-looking statements bundled in this press release depict Beacon’s sights as of the day of this push release and these sights could adjust. Even so, even though Beacon may possibly elect to update these forward-wanting statements at some issue, Beacon specially disclaims any obligation to do so, other than as demanded by federal securities rules. These ahead-hunting statements ought to not be relied on as symbolizing Beacon’s sights as of any day subsequent to the date of this push launch.

Look at source edition on businesswire.com:https://www.businesswire.com/information/household/20210210005637/en/

Call: Investor CONTACTS

For Beacon:

James Wilson

VP Finance & Treasurer

[email protected]

571-306-7501For Basis Constructing Supplies:

John Gorey

Main Economic Officer

[email protected]

714-380-3127MEDIA CONTACTS

For Beacon:

Jennifer Lewis

VP, Communications and Company Social Duty

[email protected]

571-752-1048For Foundation Building Elements:

Abernathy MacGregor

Jeremy Jacobs

[email protected]

212-371-5999For American Securities:

Amy Harsch

[email protected]


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PUB: 02/10/2021 10:00 AM/DISC: 02/10/2021 10:01 AM