DAYTONA BEACH, Fla. - TopBuild Corp. (NYSE:BLD), a prominent player in the installation and distribution of insulation and building materials, announced today its plans to acquire Insulation Works, a company specializing in insulation services for various markets.
Insulation Works, located in Wickes, Arkansas, has established a strong presence in the residential and light commercial sectors within Arkansas and neighboring states, as well as in the agricultural sector on a national level.
With an annual revenue of roughly $28 million and three locations across Arkansas, Insulation Works is poised to bolster TopBuild's service offerings and market share. The acquisition, which is anticipated to be finalized in May, aligns with TopBuild's strategic approach to mergers and acquisitions—focusing on companies within their core competency of insulation that show strong leadership and growth potential.
Robert Buck, President and CEO of TopBuild, stated that the integration of Insulation Works will not only enhance their residential and commercial business but will also bring in expertise in the agricultural insulation market. He expressed enthusiasm about the addition of the Insulation Works team, including owner Brett Counts, who is expected to continue concentrating on business expansion.
Iron Creek Business Advisors, LLC has been engaged as the advisor to Insulation Works for this transaction. TopBuild, headquartered in Daytona Beach, Florida, operates approximately 240 branches for insulation installation services nationwide and has about 170 branches in its Specialty Distribution network.
This press release includes forward-looking statements as defined by the Private Securities Litigation Reform Act, which involve risks and uncertainties. TopBuild's actual results may differ from their expectations due to factors that are unpredictable.
The company has made it clear that the forward-looking statements are based on current assumptions and information available as of the date of the press release, and it is under no obligation to update these statements in light of new information or future events, barring legal requirements. This announcement is based on a press release statement.
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