10:01 AM EDT, 04/02/2024 (MT Newswires) -- Beacon Roofing Supply ( BECN ) said Tuesday it agreed to buy Smalley & Co., a waterproofing solutions provider that is fully owned by an Employee Stock Ownership Plan and Trust.

Financial details weren't disclosed.

The completion of the proposed deal requires the majority of the plan's participants to authorize the ESOP trustee to approve the sale, Beacon said.

Smalley, based in Denver, Colorado, has 11 branches across Colorado, Arizona, California, Nevada, New Mexico, and Utah, according to Beacon.

Beacon's shares were down 2% in recent trading Tuesday.

Price: 98.18, Change: -2.06, Percent Change: -2.05