PEABODY, Mass.-Beacon Roofing Supply Inc. announced that it has entered into a definitive agreement to acquire Shelter Distribution Inc. (SDI), a leading distributor of roofing and other building products headquartered in McKinney, Texas.
PEABODY, Mass.-Beacon Roofing Supply Inc. announced that it has entered into a definitive agreement to acquire Shelter Distribution Inc. (SDI), a leading distributor of roofing and other building products headquartered in McKinney, Texas. SDI currently operates 50 branches in 14 states throughout the Midwest, Central Plains and Southwest regions and had net sales of approximately $248 million for the year ended Dec. 31, 2004. SDI has approximately 750 employees.
Beacon is making the purchase through a wholly owned subsidiary. The purchase price is approximately $152.5 million in cash, payable at closing and subject to an adjustment for working capital and other items. Completion of the transaction is subject to regulatory and other customary approvals and is expected to occur by the end of September 2005.