TopBuild Strengthens Installation Business Via Acquisition Of Texas-Focused Best Insulation

TopBuild Corp BLD has agreed to acquire all of the assets of Best Insulation, a residential insulation installer, for an undisclosed sum.

Best Insulation serves the Texas markets of Austin, San Antonio, and Houston, the Arizona markets of Phoenix and Tucson as well as the cities of Nashville, Tennessee and Tampa and Lakeland, Florida.

Best Insulation generated approximately $100 million in revenue for the trailing twelve months ending April 30, 2023. 

The transaction is expected to close within seven business days. With the closing, TopBuild will have announced two acquisitions in 2023 with combined annual revenues totaling approximately $162 million.

"Best Insulation is an outstanding addition to our Installation business with a strong customer base and an experienced team of over 200 installers," said President and CEO Robert Buck.

"Best Insulation's markets are in high growth regions in the southeast and southwest and its primary product offering is spray foam."

TopBuild held $333.7 million in cash and equivalents as of March 31, 2023.

Price Action: BLD shares traded higher by 0.38% at $268.55 on the last check Tuesday.