TopBuild Completes Progressive Roofing Acquisition

Company Overview - TopBuild Corp. is a leading installer of insulation and commercial roofing, as well as a specialty distributor of insulation and related building materials in the United States and Canada [3] - The company operates over 200 branches for installation services and more than 150 branches for specialty distribution across the two countries [3] Acquisition Details - TopBuild has completed the acquisition of Progressive Roofing for $810 million in an all-cash transaction [1] - Progressive Roofing generated $438 million in revenue and $89 million in EBITDA for the trailing 12 months ended March 31, 2025 [2] - Approximately 70% of Progressive Roofing's revenue comes from non-discretionary re-roofing and maintenance services, while 30% is from new construction [2] Strategic Implications - The acquisition is expected to enhance TopBuild's offerings to commercial customers by providing a comprehensive suite of building envelope solutions [2] - It establishes a scalable platform for growth in the $75 billion commercial roofing sector, which is highly fragmented [1] - The move increases TopBuild's exposure to non-cyclical and non-discretionary revenue drivers, potentially driving growth and profitability [2]