BayWa r.e. Expands Distribution Network with Acquisition of Beacon Solar
SANTA FE, N.M., Dec. 1, 2021 /PRNewswire/ -- BayWa r.e., a leading renewable energy developer, services and systems provider globally and in the Americas, today announced it has acquired Beacon Solar, the solar distribution division of Beacon (Nasdaq: BECN), the largest publicly traded roofing distributor in the U.S.
Beacon Solar will be fully integrated into BayWa r.e. Solar Systems LLC, the U.S. solar distribution business. The addition of the Beacon Solar network will increase the number of BayWa r.e. warehouses from six to 16, reducing delivery times in many parts of the country including many key U.S. solar markets, and represents a platform for BayWa r.e.'s continued growth. The company's line card will expand to include Beacon's key relationships with solar suppliers, and BayWa r.e.'s team will also broaden, enabling higher service levels in many geographies. In the coming months Beacon and BayWa r.e. plan to explore further collaboration to increase choices for customers, offering solar and roofing products nationwide.
"The Beacon culture has much in common with BayWa r.e.'s – a team orientation, entrepreneurial spirit, and focus on customer service excellence," said Boaz Soifer, Regional Director Solar Trade at BayWa r.e. "The expansion of our footprint and team, new product offerings, and the opportunity to cross-sell solar and roofing equipment to our network enhances our ability to deliver clean energy and home improvement solutions to our customers, and further establishes us as a market leader in U.S. solar distribution."
"BayWa r.e. is one of the most respected brands in the clean energy business. I am confident that they will take what we've started at Beacon Solar to the next level," said Julian Francis, Beacon's President and CEO. "The BayWa r.e. team is uniquely situated to provide the best service for our solar customers and the best opportunities for Beacon Solar employees."
About BayWa r.e.
At BayWa r.e. we r.e.think energy -- how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet. We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business. BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey. Our shareholders are BayWa AG, a $19.6 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. BayWa r.e. Solar Systems LLC is a leading U.S. distributor of top-tier solar and energy storage components and systems. For more information, visit http://solar-distribution.com.
About Beacon
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon's stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.
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SOURCE BayWa r.e. USA LLC
