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HERNDON, VA – Beacon (NASDAQ:BECN), a building materials distribution company, announced the completion of its acquisition of Metro Sealant & Waterproofing Supply, a specialist in sealants and waterproofing solutions in the Mid-Atlantic region. The acquisition, which includes Metro Sealant's headquarters in Springfield, Virginia, and three additional branch offices, is part of Beacon's strategy to strengthen its services in the waterproofing field.
With a 35-year history, Metro Sealant has provided commercial construction waterproofing expertise to contractors, design professionals, and owners. Garth Viar, CEO of Metro Sealant, commented:We are proud to join the Beacon team and its growing waterproofing division. Its waterproofing division is now almost nationwide. ”
Martin Harrell, Beacon's president of waterproofing, praised the technical knowledge of the Metro Sealant team and emphasized the importance of waterproofing products to protect against extreme weather. This acquisition aligns with Beacon's ambition to distribute specialty products and provide protection to communities across the country.
The move marks Beacon's second acquisition of 2024 and supports the company's goal to achieve above-market growth and meet its Ambition 2025 plan, which includes revenue and shareholder return targets. Founded in 1928, the company operates more than 530 branches in the United States and Canada, serving approximately 100,000 customers.
Information in this article is based on Beacon's press release.
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