Ninth Acquisition of the Year Expands Capabilities

  • Beacon Roofing Supply acquires Passaic Metal and Building Supplies
  • Ninth acquisition this year for Beacon Roofing Supply
  • Acquisition expands metal-solutions capabilities
  • Passaic Metal CEO Frank Gurtman believes joining will best serve customers and workers

Beacon Roofing Supply has completed its acquisition of Passaic Metal and Building Supplies, marking its ninth purchase this year. The company also announced the acquisition of SSR Roof Supply on the same day. The terms of both deals were not disclosed. This latest acquisition adds to Beacon’s growing metal-solutions capabilities and brings in craftspeople specially trained in fabrication, according to North Atlantic Regional Vice President Dave Doran. Passaic Metal CEO Frank Gurtman stated that after 100 years of independence, joining with Beacon will best serve its customers and workers.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the acquisition of Passaic Metal and Building Supplies by Beacon Roofing Supply, mentions the CEO’s perspective on the deal, and includes relevant details about the companies involved. However, it lacks some context or background information that might be useful for readers unfamiliar with the companies.
Noise Level: 2
Noise Justification: The article provides relevant information about a company acquisition and the benefits it brings to both parties involved, without any irrelevant or misleading content.
Public Companies: Beacon Roofing Supply (BECN)
Private Companies: Passaic Metal and Building Supplies
Key People: Dave Doran (North Atlantic Regional Vice President), Frank Gurtman (CEO)

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Beacon Roofing Supply’s stock price
Financial Rating Justification: The acquisition of Passaic Metal and Building Supplies and SSR Roof Supply by Beacon Roofing Supply indicates a company growth through mergers and acquisitions, which can impact the stock prices of involved companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.marketwatch.com