TopBuild Acquires California Building Products

Rhea-AI Summary

TopBuild Corp. (NYSE:BLD) has acquired California Building Products (CBP), enhancing its presence in northern California's insulation market. CBP generated approximately $18 million in revenue for the twelve months ending June 30, 2021. The acquisition is part of TopBuild's aggressive growth strategy, having completed seven acquisitions this year, projected to generate nearly $250 million in annual revenue. President and CEO Robert Buck emphasized that CBP's leadership will remain intact, aiming to grow the existing customer base and operations.

Positive

• Acquisition of California Building Products enhances northern California presence.
• CBP generated approximately $18 million in revenue, contributing to growth.
• Seven acquisitions completed this year expected to generate nearly $250 million in annual revenue.

Negative

• None.

Residential and Light Commercial Insulation 
$18 Million Annual Revenue 
Expands Presence in Northern California

DAYTONA BEACH, Fla., Oct. 06, 2021 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and distributor of insulation and building material products in the United States, has acquired California Building Products (“CBP”), a residential and light commercial insulation company serving Bakersfield, Modesto and Fresno, California. CBP generated approximately $18 million in revenue for the trailing twelve months ended June 30, 2021.

Robert Buck, President and CEO of TopBuild, noted, “California Building Products is a great addition to TopBuild, enhancing our residential presence in northern California. The leadership team of the company will remain in place, continuing to focus on growing this business, expanding the already solid customer base, and strengthening our operations in the region.”  

Year-to-date, TopBuild has completed seven acquisitions which are expected to generate almost $250 million of annual revenue.

About TopBuild
TopBuild Corp., a Fortune 1000 Company headquartered in Daytona Beach, Florida, is a leading installer and distributor of insulation and building material products to the U.S. construction industry. We provide insulation and building material services nationwide through TruTeam^®, which has approximately 235 branches, and through Service Partners^® which distributes insulation and building material products from approximately 75 branches. We leverage our national footprint to gain economies of scale while capitalizing on our local market presence to forge strong relationships with our customers. 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 California Building Products?

The acquisition enhances TopBuild's presence in northern California, adding approximately $18 million in annual revenue.

How much revenue is expected from TopBuild's acquisitions this year?

TopBuild's seven acquisitions are projected to generate nearly $250 million in annual revenue.

When was California Building Products acquired by TopBuild?

California Building Products was acquired on October 6, 2021.

What markets does TopBuild serve after acquiring CBP?

TopBuild expands its market presence in residential and light commercial insulation in northern California.

Who will remain in charge of California Building Products after the acquisition?

The current leadership team of California Building Products will remain in place to continue operations.