Beacon Roofing Supply to acquire Cassady Pierce
Beacon Roofing Supply has reached an agreement to acquire Cassady Pierce Company, a distributor of residential and commercial roofing products and related accessories headquartered in Pittsburgh, Pa.
Founded in 1947, Cassady Pierce has six locations in the Pittsburgh area and annual sales of approximately $52 million. Closing on the transaction is expected on May 31.
Dennis Kelleher, Cassady Pierce's owner, stated "I am pleased to pass the torch to Beacon, which will allow Cassady Pierce to continue its excellent history of customer service, expand its product offering and allow for continued profitable growth. I was presented with many strategic opportunities, but I chose to align with Beacon not only because of its size and reputation in the industry but because it shares our belief that success comes from hard work and a commitment to your employees and customers."
Bill Vernal will remain as Cassady Pierce's president and become part of Beacon's regional management team. "Joining Beacon will enable us to grow our business and presents greater opportunities for our employees and customers. I look forward to leading our dedicated, experienced and knowledgeable staff as we join forces with Beacon in Western Pennsylvania. We are very excited about our future with Beacon," Vernal said.
Paul Isabella, Beacon's CEO and president, emphasized the strategic fit of the acquisition and the compatibility of the two companies. "Cassady Pierce is an industry leader in Western Pennsylvania and allows Beacon to expand our presence in that very important market beyond our existing North Coast Pittsburgh branch. Dennis Kelleher and Bill Vernal have built a great team and I am thrilled to welcome Cassady Pierce to the Beacon family," Isabella said.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
