Herndon Firm To Buy Texas Company in $1 Billion Deal: Media Reports

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A Herndon roofing supply company has made a $1 billion deal to buy a Texas-based roofing supply wholesaler, according to media reports.

Beacon Roofing Supply, a publicly-traded company, said Monday it planned to buy Roofing Supply Group of Dallas for just more than $1 billion, the Washington Post reported. The company will use a $450 million to finance the transaction, with the rest coming from refinanced debt, the company said.

Beacon reported $2.2 billion in sales in fiscal 2014, according to the Washington Business Journal. The company sells asphalt, shingles and other materials wholesale to contractors.

Beacon moved to Herndon from Massachusetts at the end of 2013, and it’s been buying up wholesalers such as itself, completing 28 acquisitions after going public in 2004, the Post reported.