HERNDON, Va. — Beacon announced the successful completion of the previously announced sale of its interior products and insulation businesses to Foundation Building Materials, majority-owned by affiliates of American Securities LLC, a leading U.S. private equity firm.

The cash sale price of $850 million is subject to certain net working capital and other adjustments.

“Finalizing the sale of Interior Products represents a transformational event for our company,” said Julian Francis, Beacon’s president and CEO. “As we focus on growing our core exteriors business, proceeds from the sale significantly enhance our financial flexibility. Our entire organization is now committed to growing sales and improving the profitability of our exteriors business.

"We appreciate the cooperative efforts of the Beacon, American Securities and FBM teams to rapidly complete this transaction. We are grateful to the Interior Products employees for their strong dedication to customer service while part of Beacon and look forward to seeing their continued success.”

The Interior Products divestiture accelerates Beacon's ongoing efforts to improve its financial flexibility and enhances its ability to pursue strategic growth initiatives in its core exteriors business. Beacon intends to use the anticipated after-tax proceeds of approximately $750 million from this divestiture to reduce net leverage, strengthen its balance sheet and invest for growth.

“This transaction significantly expands our presence in many markets throughout the United States and provides attractive opportunities to drive revenue and profit growth while delivering meaningful long-term benefits to our customers, vendors, employees and the communities we serve,” said Ruben Mendoza, president and CEO of FBM. “FBM has long been one of the largest specialty building product distributors of interior products, and we look forward to bringing together these two great businesses.” 

Beacon Completes $850 Million Sale of Interior Products and Insulation Business

Gulfeagle Supply Announces Jim Barnish as Vice President of Operations, District 1b

TAMPA, Fla. — Gulfeagle Supply announced Jim Barnish’s new role as vice president of operations in District 1b. As Gulfeagle Supply continues to grow, Barnish’s new position will help support the Midwest as it blossoms. The region formerly known as District 1 will now be composed of District 1a and District 1b.

Bill Wilson will continue his role in Vendor Relations and as vice president of operations in District 1a overseeing the following branches: Birmingham, Huntsville, Montgomery, Dothan, Ridgeland, Decatur, Gulfport, Austin, Colleyville, Denton, Houston, Arlington, Mesquite, Loveland, Colorado Springs, Gypsum, Denver, Mobile, St. Louis, Cedar Falls, Fargo, Joplin and Tulsa.

Barnish will oversee the following branches in District 1b: Milwaukee, Kenosha, Minneapolis, Itasca, Wichita, Northglenn, Oklahoma City, Commerce City, Kansas City, and Pewaukee. Additionally, Barnish will be supporting other branches with operational assistance including onboarding new branch managers.

Barnish has been with the company for 16 years and has served in various roles, including chief financial officer and corporate director. As corporate director, he played a key role assisting in the Kimal Lumber acquisition in 2018. Barnish resides in Tampa and will be based out of Gulfeagle’s corporate headquarters.

MCKINNEY, Texas — SRS Distribution Inc. has acquired JB Wholesale Roofing and Building Supplies Inc., a distributor of residential and commercial roofing and other related products. Terms of the agreement were not disclosed.

Headquartered in Chatsworth, Calif., JB Wholesale was founded in 1979 by Keith Jones and is currently run by Brian Jones and Nizam Husaini. The company operates 11 locations across Southern California and employs a team of ~200 people.

“We are thrilled to welcome Brian, Nizam, and the entire JB Wholesale team to the SRS family," said Dan Tinker, president and CEO of SRS Distribution. "The company represents a rare opportunity to partner with one of the largest and most respected independent distributors in the industry. Combined with our existing footprint, SRS will now operate a total of 20 branches in greater Los Angeles. We are truly excited by what our combined organization will accomplish together.”

Husaini will continue to lead the company’s employee base under the JB Wholesale banner, ensuring continuity and consistency for customers, suppliers and employees.

“We are honored to announce our partnership with SRS, a company we have competed with for years and have a tremendous amount of respect for,” said Husaini. “Keith built a business whose success was predicated on building and maintaining long-term relationships with its customers. In SRS we have found a partner that will continue that tradition, while further enhancing our ability to provide excellent customer service and growth opportunities for our entire team.”

SRS Distribution operates under a family of local brands encompassing more than 390 locations across 44 states.

SRS Expands Presence in California Through Acquisition of JB Wholesale

Metal-Era Acquires OMG Roofing Products' Edge Metal Products, Rebrands to Hickman Edge Systems LLC

WAUKESHA, Wis. — Metal-Era LLC has acquired the entire metal roof edge product line, manufacturing operation, and assets from OMG Roofing Products. The acquisition includes the plant, equipment and team located in Asheville, N.C., as well as the rights to the venerable Hickman brand name. 

The deal is effective immediately and terms of the transaction were not disclosed.

“OMG has been a good steward of the business since 2013,” said Tony Mallinger, president and CEO of Metal-Era. “We are excited to bring back the Hickman Edge Systems brand, the first pre-manufactured roof edge in the U.S. and a pioneer in the fascia and coping industry.”

Combined, the two organizations and two brands will have the largest selection of tested roof edge products in North America, offering a variety of options for customers to protect their commercial roofing systems at the perimeter.

“We believe additional investment in Hickman Edge Systems and their workforce in Asheville will serve both of our customer bases extremely well,” said Mallinger. “We look forward to integrating best practices from both businesses.”

OMG acquired the Asheville, N.C.-based edge metal business from the W.P. Hickman Company in 2013. The edge metal product line includes a variety of engineered fascia, coping, water control systems and related accessories for commercial roofing applications.

“We are pleased to be selling the edge business to Metal-Era. Their singular focus on engineered metal solutions makes them the clear market leader. This is good for OMG, Metal-Era, and professional roofing contractors,” said Hubert McGovern, president and CEO of OMG. “This divestiture enables us to increase our focus on our core strengths in induction fastening, mechanical fastening, and adhesive, drain and solar technologies. I would like to thank our colleagues from the EdgeSystems Business Unit for their contribution to OMG during the past several years. We wish them all well in the future.”

OMG EdgeSystems operated as a business unit under the company’s OMG Roofing Products Division. OMG EdgeSystems is based in Asheville, N.C., and includes approximately 80,000 square feet of office, warehouse, and manufacturing space, as well as 52 people involved in manufacturing, engineering, sales, and customer service.

No significant changes are expected in personnel at Metal-Era in Waukesha or the existing Hickman location in Asheville.

BRYAN, Ohio — Altenloh, Brinck & Co. US, Inc. (ABC), manufacturer of SPAX engineered fasteners, celebrates the 40th anniversary of the TRUFAST brand in 2021.

The story of TRUFAST’s early days can be found in founder Duane Spangler’s book, "The Journey." Its pages make clear the rich community relationships and connections that contributed to TRUFAST’s initial successes and growth as a provider of high-quality fastening solutions for the commercial roofing industry. It’s not surprising that as the company grew, “Trusted Connections” became both its mantra and philosophy of doing business.

Even after TRUFAST’s 2005 acquisition by German-based Altenloh, Brinck & Co., that family-focused culture of trusted connections continues to be a hallmark of both the TRUFAST brand and parent company ABC — as well as its other, complementary brands: SPAX for the construction market and the TRUFAST WALLS brand for exterior building envelopes and facades.

The ABC acquisition of TRUFAST resulted in an immediate and ongoing infusion of capital and resources that boosted the company’s growth and expansion while leaving its family-owned, people-focused culture intact. ABC’s investments made possible a 33,000-square foot expansion and modernization of the Bryan, Ohio manufacturing facility in 2011 as well as a 50,000 square foot expansion to its state-of-the-art heat treat facility in Pioneer, Ohio.

“From the beginning, TRUFAST was an excellent fit for our company because of similar brand traits: customer focus, persistence, high quality and reliability of both our products and people,” said Nikolas Dicke, CEO of ABC and a leader at the parent company, Altenloh, Brinck & Co. Group.

Jim Winn, president of the SPAX brand, shared his take on how the TRUFAST brand origins led to the current successes of the ABC family of brands, including SPAX: “TRUFAST is the foundation that the SPAX brand was built on. The family environment at our Bryan, Ohio manufacturing and office facility mean that we all take care of each other — and never has that been more evident than during the global pandemic of 2020. We make high quality, highly engineered products but the quality and longevity of our people are what set this company and its brands apart the most.”

The TRUFAST brand has accomplished a lot in 40 years, from its origins in the farm fields of rural Ohio to its acquisition by the ABC Group in Germany. Even while tripling in size, the company has stayed true to its mission: to grow lasting relationships through innovative fastening solutions.

“The growth of TRUFAST, ABC and the SPAX brand is tremendous," said Jason Beals, president of the TRUFAST brand. "We have tripled in size, added more than 200 jobs, acquired additional brands such as RODENHOUSE and others, and significantly expanded our square footage. We will make and sell more than 1 billion screws this year. At TRUFAST in our early days, $10 million would have been a great year. Today, ABC U.S. sees $10 million in a month! Even during the current global health crisis, we keep growing. While commercial roofing slowed down, the SPAX construction and DIY markets kept us growing.”

TRUFAST Brand Celebrates 40 years of 'Trusted Connections' in 2021