TopBuild Acquires Two Residential Insulation Installation Companies
November 09 2021 - 6:45AM
TopBuild Corp. (NYSE:BLD) a
leading installer and specialty distributor of insulation and
building material products to the North American construction
industry, has acquired Tonks Insulation in St. George, Utah, and
Shepherds Insulation in Pueblo, Colorado. Combined, these companies
generated approximately $6 million of revenue in 2020.
Robert Buck, President and CEO of TopBuild,
noted, “We are pleased to welcome Tonks Insulation and Shepherds
Insulation to TruTeam. Tonks has been serving the southern Utah
markets for over 10 years and the founder, Gary Tonks, will
continue to manage and help us grow this business. Shepherds has
been servicing the Colorado market for many years and brings a mix
of both residential and light commercial business.
“Looking ahead, our M&A pipeline remains
robust and includes installation and specialty distribution
companies in all three end-markets we serve: residential,
commercial and industrial.”
Year-to-date, TopBuild has completed ten
acquisitions which are expected to generate approximately $1
billion of annual revenue.
About TopBuildTopBuild 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 StatementThis 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,”
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difficult to predict and, accordingly, our actual results may
differ materially from the results discussed in our forward-looking
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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
ContactTabitha
Zanetabitha.zane@topbuild.com386-763-8801
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