TopBuild Acquires Progressive Roofing from Bow River Capital for $810M

Bow River Capital Recapitalizes Progressive Roofing

October 5, 2021

Construction

Denver-based private equity firm Bow River Capital completed a recapitalization of Progressive Roofing, a Phoenix-headquartered commercial roofing services provider. Progressive's management participated in the transaction, retaining a meaningful ownership stake as Bow River provides capital to support growth and geographic expansion.

TopBuild Acquires California Building Products

October 6, 2021

Building Products

TopBuild Corp. has acquired California Building Products, a residential and light commercial insulation company serving Bakersfield, Modesto and Fresno, California. The acquisition (CBP generated approximately $18 million in trailing twelve-month revenue) expands TopBuild’s residential presence and strengthens its operations in Northern California.

TopBuild Corp. Acquires Valley Gutter Supply

August 23, 2021

Building Products

TopBuild Corp. acquired Valley Gutter Supply, a Los Angeles-area fabricator and distributor of gutter products and specialty metals. The acquisition adds roughly $10 million of annual revenue and is intended to expand TopBuild’s Service Partners gutter fabrication and distribution capacity throughout California.

TopBuild Acquires Residential Insulation Business of SRI Holdings

January 26, 2023

Building Products

TopBuild Corp. has acquired the assets of the residential insulation business of SRI Holdings, LLC, adding approximately $62 million of revenue and expanding TopBuild's presence across Georgia, Michigan, Ohio, Florida, Alabama and South Carolina. The acquisition integrates SRI's residential installation operations into TopBuild's Installation segment and strengthens its footprint in key U.S. residential markets.

TopBuild Corp. Acquires Billings Insulation

February 7, 2022

Construction

TopBuild Corp. (TruTeam) has acquired Billings Insulation, a residential insulation installer serving Montana and northern Wyoming. The acquired business generated approximately $6.5 million in revenue for the twelve months ended December 31, 2021 and will be integrated into TopBuild’s TruTeam installation platform to expand its regional footprint.

TopBuild Acquires Applied Coatings and Upstate Spray Foam

February 8, 2026

Construction

TopBuild has acquired Applied Coatings and Upstate Spray Foam, two Winfield, New York-based contractors that collectively generate about $20 million in annual revenue. The acquisitions expand TopBuild’s installation and specialty distribution footprint in the U.S. Northeast, strengthening its presence across New York, Pennsylvania and Massachusetts; financial terms were not disclosed.