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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