Beacon Announces Strategic Acquisition of Coastal Construction Products - Seite 2

“We are thrilled to welcome Coastal’s over 200 employees to the Beacon team. Their core values, customer-focused service model and depth of waterproofing expertise are an ideal fit as we continue progress toward the Ambition 2025 goals we announced in February,” commented Julian Francis, Beacon’s President & CEO. “Expanding nationwide access to waterproofing products enhances our value proposition to our commercial and multifamily customers and provides the opportunity to build more together. I am particularly pleased that Martin Harrell will be reporting to me and leading Beacon’s new specialty waterproofing division to enhance our focus and capitalize on the above-market growth opportunities we see for waterproofing products.”

Coastal’s estimated full year 2022 revenue and EBITDA are expected to be approximately $250 million and $25 million, respectively. Beacon expects to continue to report waterproofing revenues as part of its Complementary line of business going forward. Pro forma net debt leverage remains below Beacon’s 2.5x target and the synergized transaction multiple is expected to be lower than Beacon’s current trading multiple. The Company intends to provide additional perspective on this transaction during its Third Quarter 2022 earnings call.

Forward-Looking Statements

This press release contains information about management’s view of Beacon’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe", "will likely result", "outlook", "project" and other words and expressions of similar meaning. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of Beacon’s latest Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Beacon’s views as of the date of this press release and these views could change. However, while Beacon may elect to update these forward-looking statements at some point, Beacon specifically disclaims any obligation to do so, other than as required by applicable law. These forward-looking statements should not be relied upon as representing Beacon’s views as of any date subsequent to the date of this press release.