Tracy Alloway

It's a lower multiple than we trade at, which is very important because that's where you get the accretion, the accretion to earnings per share.

This is going to be a massively accretive transaction for us.

Talk to us about setting aside this acquisition, which we'll come back to.

How does business feel over the last year?

You know, just general economic conditions in the building materials distribution world.

What's been the last year like?

Super soft.

Super, super soft.

Now, super soft because demand in general in building and construction is soft, is weak, and we're not immune to that.

But we've mostly been in roofing up until recently.

Now, roofing is a special animal because it's extremely affected by...

weather meaning bad weather you want to have bad weather is good weather for roofing so you want to have yeah you want to have sleet and a lot of hailstorms and hurricanes and tornadoes and i gotta tell you there's a lot of cognitive dissonance about that because for all my life i've watched television you see a hurricane like normal people unless you're a sociopath you feel bad you feel oh wow it's too bad that these people are getting their

Wait, have you become a sociopath?

No hell?

No, but my point is this.

If a normal person watches television and sees people's houses getting, roofs being blown off, usually you feel bad about that.

You feel compassionate.

You feel, oh, wow, it's too bad for them.

Yeah.

So there's a dissonance here because that's really good for the roofing business.