{"id":893638,"date":"2025-10-08T07:18:24","date_gmt":"2025-10-08T11:18:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/topbuild-acquires-specialty-products-and-insulation-spi-in-all-cash-transaction-valued-at-1-billion\/"},"modified":"2025-10-08T07:18:24","modified_gmt":"2025-10-08T11:18:24","slug":"topbuild-acquires-specialty-products-and-insulation-spi-in-all-cash-transaction-valued-at-1-billion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/topbuild-acquires-specialty-products-and-insulation-spi-in-all-cash-transaction-valued-at-1-billion\/","title":{"rendered":"TopBuild Acquires Specialty Products and Insulation (SPI) in All-Cash Transaction Valued at $1 Billion"},"content":{"rendered":"
\n

\n Reinforces TopBuild\u2019s Leadership Position in Specialty Distribution,\u00a0<\/em>
\n
\n Extends Geographic Footprint and Expands Mechanical Insulation Fabrication Capabilities<\/em>\n <\/p>\n

\n Further Grows TopBuild\u2019s Presence in Commercial and Industrial End Markets and Strengthens Non-Cyclical Revenue Stream<\/em>\n <\/p>\n

\n Expects $35 to $40M in Annual Run-Rate Cost Synergies<\/em>\n <\/p>\n

DAYTONA BEACH, Fla., Oct. 08, 2025 (GLOBE NEWSWIRE) — TopBuild Corp.<\/strong>(NYSE:BLD)<\/strong>, a leading installer of insulation and commercial roofing and a specialty distributor of insulation and related building material products to the construction industry in the United States and Canada, announced that it successfully acquired Specialty Products and Insulation (SPI), a leading specialty distributor and fabricator of mechanical insulation solutions for the commercial, industrial and residential end markets in North America, for $1.0 billion in cash. The acquisition closed on October 7 and was funded with cash on hand, including proceeds from the September senior notes issuance. The acquisition excludes SPI\u2019s metal building insulation (\u201cMBI\u201d) business.<\/p>\n

SPI generated approximately $700 million in revenue and $75 million in EBITDA for the trailing twelve months ended June 30, 2025. The transaction represents approximately 12.4x SPI\u2019s earnings before interest, taxes, depreciation and amortization (EBITDA) for the trailing twelve months ended June 30, 2025, inclusive of a $70 million tax asset. Considering synergies of $35-$40 million within two years, the transaction multiple is 8.3x EBITDA. The transaction is immediately accretive to earnings per share.<\/p>\n

Robert Buck, President and Chief Executive Officer of TopBuild, stated, \u201cThe SPI acquisition is highly strategic for TopBuild. The addition of SPI\u2019s resources and capabilities further enhances our customer value proposition while its complementary fabrication footprint strengthens and expands our presence across North America. The transaction also drives our growth in non-cyclical revenue streams given that approximately 55% of SPI\u2019s revenue relates to recurring maintenance and repair. We are excited to welcome SPI\u2019s talented and experienced team to TopBuild.\u201d<\/p>\n

Ray Sears, President and Chief Executive Officer of SPI, added, \u201cWe believe TopBuild is the best strategic owner for our business, better positioning the combined organization to provide customers with innovative and high-quality solutions. Both companies have similar corporate cultures with an emphasis on safety, respect, and a continued drive to improve.\u201d<\/p>\n

Based in Charlotte, North Carolina, SPI employs approximately 1,000 people across 90 branches and serves a broad base of customers across North America.<\/p>\n

\n SPI Acquisition Advances TopBuild\u2019s Growth Strategy and Drives Strong Returns:<\/strong>\n <\/p>\n