Beacon Roofing Invests, Partners With Renovate Robotics

Dow Jones

Mar 10, 2025

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)

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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.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4104":"贸易公司与经销商","BECN":"Beacon Roofing Supply","LU1878469433.USD":"THREADNEEDLE (LUX) - AMERICAN SMALLER COMPANIES \"A\" (USD) ACC"},"translate_title":"Beacon Roofing投资并与Renovate Robotics合作","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BECN":0.9},"content_text":"By Denny Jacob \n\n\n \n\n\nBeacon Roofing Supply has made a strategic investment and partnership with roofing-automation company Renovate Robotics. \n\n\n  \"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. \n\n\n  Exact terms of the investment and partnership weren't disclosed. \n\n\n  Renovate, based in Brooklyn, N.Y., has a robot that installs shingles on residential roofs. 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