TopBuild Acquires Insulating Products

Rhea-AI Summary

TopBuild Corp. (NYSE:BLD) has acquired Insulating Products, Inc., a Texas-based distributor of insulation, enhancing its specialty distribution sector. Insulating Products, founded in 2003, generated approximately $11 million in revenue for the trailing twelve months ending September 30, 2021. The acquisition strengthens TopBuild's geographic reach in the growing Southwest region and is expected to add value through an established customer base. CEO Robert Buck emphasized the strategic importance of this acquisition for expanding their business operations.

Positive

• Acquisition enhances specialty distribution business.
• Expected to increase market presence in the high-growth Southwest region.
• Insulating Products has a strong and established customer base.

Negative

• None.

Residential and Light Commercial Insulation Distributor
$11 Million Annual Revenue

DAYTONA BEACH, Fla., Jan. 06, 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 Insulating Products, Inc., a residential and light commercial insulation distribution company headquartered in Lewisville, Texas with additional facilities in Houston, San Antonio, Oklahoma City and Wichita. Insulating Products was founded in 2003 and generated approximately $11 million in revenue for the trailing twelve months ended September 30, 2021.

Robert Buck, President and CEO of TopBuild, noted, “Insulating Products will enhance the strength of our specialty distribution business as it brings a strong and long-standing customer base and expands our geographic presence in the high growth Southwest region.”  

About TopBuild
TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer and specialty distributor of insulation and building material products to the North American construction industry. We provide insulation solutions and building material installation services through TruTeam which has approximately 235 branches. We distribute building insulation and building product materials for the residential and commercial end-markets through Service Partners and mechanical insulation and other specialty products for the commercial and industrial end-markets through Distribution International. 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 purpose of TopBuild's acquisition of Insulating Products, Inc.?

The acquisition aims to enhance TopBuild's specialty distribution business and expand its geographic presence in the Southwest.

How much revenue did Insulating Products generate before the acquisition?

Insulating Products generated approximately $11 million in revenue for the trailing twelve months ending September 30, 2021.

What strategic advantages does this acquisition provide for TopBuild?

It strengthens TopBuild's market position in the high-growth Southwest region and increases its customer base.

When was the acquisition of Insulating Products announced?

The acquisition was announced on January 6, 2022.