Beacon Roofing Invests, Partners With Renovate Robotics

Dow Jones

2025/03/10

By Denny Jacob

Beacon Roofing Supply has made a strategic investment and partnership with roofing-automation company Renovate Robotics.

"This technology has the potential to disrupt the roofing industry where labor is a scarce resource, and we are excited to be an early partner that can help shape its development," said Julian Francis, chief executive of the Greenwich, Conn.-based roofing-and-building-products distributor.

Exact terms of the investment and partnership weren't disclosed.

Renovate, based in Brooklyn, N.Y., has a robot that installs shingles on residential roofs. A launch with contractors in New Jersey and Pennsylvania is expected later this year.

Beacon's announcement came on the same day it launched discussions with Brad Jacobs' QXO, a new player in building-products distribution, about a potential combination in which QXO would acquire Beacon for around $11 billion including debt.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 10, 2025 08:51 ET (12:51 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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A launch with contractors in New Jersey and Pennsylvania is expected later this year. \n</p>\n<p>\n  Beacon's announcement came on the same day it launched discussions with Brad Jacobs' QXO, a new player in building-products distribution, about a potential combination in which QXO would acquire Beacon for around $11 billion including debt. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2025 08:51 ET (12:51 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BECN","symbol_name":"Beacon Roofing Supply","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2518226178","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518226178","pubTimestamp":1741611060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Beacon Roofing Supply has made a strategic investment and partnership with roofing-automation company Renovate Robotics.\"This technology has the potential to disrupt the roofing industry where labor is a scarce resource, and we are excited to be an early partner that can help shape its development,\" said Julian Francis, chief executive of the Greenwich, Conn.-based roofing-and-building-products distributor.Exact terms of the investment and partnership weren't disclosed.Renovate, based in Brooklyn, N.Y., has a robot that installs shingles on residential roofs. 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A launch with contractors in New Jersey and Pennsylvania is expected later this year. \n\n\n  Beacon's announcement came on the same day it launched discussions with Brad Jacobs' QXO, a new player in building-products distribution, about a potential combination in which QXO would acquire Beacon for around $11 billion including debt. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 10, 2025 08:51 ET (12:51 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}