Beacon Roofing Supply (BECN) is a distributor of roofing supplies to residential and commercial contractors. As a distributor, BECN is not particularly concerned with what product is hot so much as they are concerned with being able to get desired products to its customers. The commercial business tends to be doing well when residential is not and vice versa. Therefore, the company has hedged against extreme real estate cycles to an extent.
Bob Buck, former president of Cintas (CTAS) for nearly 20 years, came to BECN when the company was primarily located in the northeastern US. Code Hennessy and Simmons provided some funding and the IPO was primarily written by William Blair, which remains one of the largest shareholders. Under Mr. Buck the company has sought geographic diversity and has become the largest distributor of commercial roofing products in the process. The largest residential distributor remains ABC corp with BECN closing in. Aside from ABC, BECN dominates the next largest competitor in terms of market share.