TopBuild Acquires Billings Insulation

Rhea-AI Summary

TopBuild Corp. (NYSE:BLD) has acquired Billings Insulation, a residential insulation installer operating in Montana and Northern Wyoming. This acquisition adds approximately $6.5 million in annual revenue, reinforcing TopBuild's market position. Billings Insulation has built a solid customer base over 17 years, contributing to TopBuild’s strategy of growth through acquisitions. TopBuild has notably added three residential insulation companies since November, indicating a focus on expanding its service offerings in growing markets.

Positive

• Acquisition of Billings Insulation adds $6.5 million in annual revenue.
• Strengthens TopBuild's presence in Montana and Northern Wyoming markets.
• Billings Insulation has a solid customer base and strong reputation.

Negative

• None.

Residential Insulation Installer
$6.5 Million Annual Revenue

DAYTONA BEACH, Fla., Feb. 07, 2022 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and specialty distributor of insulation and building material products to the North American construction industry, has acquired Billings Insulation, a residential insulation installer serving the Montana and Northern Wyoming markets. Billings has serviced a wide range of customers for over 17 years and generated approximately $6.5 million in revenue for the twelve months ended December 31, 2021.

Robert Buck, President and CEO of TopBuild, noted, “Billings Insulation has a solid and growing customer base due to its outstanding reputation in the markets it serves. We welcome Billings to TruTeam and are pleased to note that since November, we have added three residential insulation installation companies to TopBuild.”

About TopBuild
TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and Canada. We provide insulation installation services nationwide through our contractor services business which has approximately 235 branches located across the United States. We distribute building and mechanical insulation, insulation accessories and other building product materials for the residential, commercial, and industrial end markets through our Specialty Distribution business. Our specialty distribution network encompasses 175 branches. To learn more about TopBuild please visit our website at www.topbuild.com.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements. Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

Investor Relations and Media Contact
Tabitha Zane
tabitha.zane@topbuild.com
386-763-8801

FAQ

What is the significance of TopBuild's acquisition of Billings Insulation?

The acquisition strengthens TopBuild's market presence in Montana and Northern Wyoming and adds approximately $6.5 million in annual revenue.

When was Billings Insulation acquired by TopBuild?

TopBuild announced the acquisition of Billings Insulation on February 7, 2022.

How much revenue does Billings Insulation generate?

Billings Insulation generated approximately $6.5 million in revenue for the twelve months ending December 31, 2021.

How does this acquisition affect TopBuild's growth strategy?

The acquisition supports TopBuild's growth strategy by expanding its customer base and enhancing its service offerings, with three other residential insulation companies added since November.