TopBuild Acquires Ozark Foam

Rhea-AI Summary

TopBuild Corp. (NYSE:BLD) has acquired Ozark Foam, a leading provider of spray foam insulation, generating $7.7 million in revenue in 2020. This strategic acquisition strengthens TopBuild's TruTeam installation business and enhances its market presence in Missouri, Arkansas, and Oklahoma. The acquisition is part of TopBuild's broader strategy, having completed two acquisitions to date this year, projected to generate a total of $66 million in annual revenue, with an additional acquisition expected to add $144 million more.

Positive

• Acquisition of Ozark Foam increases market presence in key states.
• Ozark Foam's revenue of $7.7 million adds to TopBuild's financial growth.
• The addition of experienced management from Ozark Foam enhances operational capabilities.

Negative

• None.

Residential and Light Commercial Spray Foam Insulation $7.7 Million Annual Revenue

DAYTONA BEACH, Fla., March 03, 2021 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and distributor of insulation and building material products in the United States, has acquired Ozark Foam, a residential and light commercial insulation company that primarily installs spray foam insulation. Founded in 1995 and serving customers in Missouri, Arkansas and Oklahoma, Ozark Foam generated approximately $7.7 million in revenue in 2020.

Robert Buck, President and CEO of TopBuild noted, “Ozark Foam is a terrific addition to our TruTeam installation business with a strong customer base and an experienced team of installers. We are also pleased that the two former owners, Randi and Tami Williams, have joined the TopBuild team. They will continue to manage and help us grow this business.”

Year-to-date, TopBuild has completed two acquisitions which are expected to generate close to $66 million of annual revenue and has entered into an agreement for another acquisition which is expected to generate an additional $144 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 200 branches, and through Service Partners^® which distributes insulation and building material products from over 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 Ozark Foam?

The acquisition expands TopBuild's market reach and enhances its TruTeam installation division with Ozark Foam's established customer base.

How much annual revenue does Ozark Foam generate?

Ozark Foam generated approximately $7.7 million in revenue in 2020.

What is TopBuild's strategy regarding acquisitions in 2021?

TopBuild has completed two acquisitions and has another in progress, expected to generate a total of $66 million plus an additional $144 million in annual revenue.

Who will manage Ozark Foam after the acquisition?

The former owners, Randi and Tami Williams, will continue to manage Ozark Foam under TopBuild's umbrella.

How does the acquisition of Ozark Foam impact TopBuild's financials?

It is expected to contribute positively with new revenue streams, enhancing TopBuild's overall financial performance.