Topbuild Corp Stock Price, News & Analysis

TopBuild Corp. (NYSE:BLD) has acquired California Building Products (CBP), enhancing its presence in northern California's insulation market. CBP generated approximately $18 million in revenue for the twelve months ending June 30, 2021. The acquisition is part of TopBuild's aggressive growth strategy, having completed seven acquisitions this year, projected to generate nearly $250 million in annual revenue. President and CEO Robert Buck emphasized that CBP's leadership will remain intact, aiming to grow the existing customer base and operations.

TopBuild Corp. (NYSE:BLD) will announce its third quarter 2021 financial results on November 2, 2021, at 7:00 a.m. ET. A conference call to discuss the results will take place at 9:00 a.m. ET the same day. Interested parties can join the live call by dialing (877) 407-9037, and a webcast will be available on the company’s website. TopBuild is a leading installer and distributor of insulation and building materials in the U.S., operating through approximately 310 branches. Further details can be found on their official website.

TopBuild Corp. (NYSE:BLD) has announced a private offering of $500 million in senior notes due 2032, priced at 4.125%. The proceeds will be used to finance the acquisition of Distribution International, Inc. (DI). The offering is expected to close on October 14, 2021, subject to market conditions. Notably, the notes are subject to a mandatory redemption if the acquisition is not completed by August 7, 2022. TopBuild cautions investors about potential risks including the impact of COVID-19 on construction and the challenges of integrating DI.

TopBuild Corp. (NYSE:BLD) announced a private offering of $500 million senior notes due 2032, aimed at funding the purchase of Distribution International, Inc. (DI) and related expenses. The offering is not conditioned upon the completion of the acquisition, but the notes will face special mandatory redemption if the acquisition isn't finalized by August 7, 2022. This offering is subject to market conditions and will not be registered under the Securities Act. The company warns that forward-looking statements may differ materially due to various risks, including impacts from COVID-19.

TopBuild Corp. (NYSE:BLD) announced the retirement of CFO John Peterson, effective March 31, 2022, after over six years with the company. Robert Kuhns, currently Vice President and Corporate Controller, will succeed him. CEO Robert Buck expressed gratitude for Peterson's contributions to the company's growth and highlighted Kuhns' readiness to take on the CFO role, ensuring a smooth transition. Kuhns brings a strong finance background from previous experience at Mohawk Industries and holds CPA credentials. Additional details on Peterson's retirement arrangements will be filed with the SEC.

TopBuild Corp. (NYSE:BLD) has appointed Ernesto Bautista, III, former CFO of BJ Energy Solutions, to its Board of Directors, expanding the board to eight members. Bautista brings over 15 years of experience as a CFO for publicly traded companies, enhancing the board's financial expertise. Chairman Alec Covington expressed excitement about Bautista's contribution, while CEO Robert Buck anticipates that his corporate strategy and financial management experience will benefit the company's growth. Bautista is a CPA and holds degrees from Rice University.

Advent International has reached an agreement to sell Distribution International Inc. (DI) to TopBuild Corp. (NYSE:BLD) for $1.0 billion in cash. DI, a leading mechanical insulation distributor in North America, has expanded significantly under Advent's ownership, increasing its revenue by over 50% to approximately $747 million as of June 30, 2021. The acquisition will enable TopBuild to penetrate the $5 billion mechanical insulation market and enhance its growth potential. The deal is expected to close in Q4 2021, subject to regulatory approval.

TopBuild Corp. (NYSE:BLD) announced its agreement to acquire Distribution International for $1 billion in cash. The acquisition positions TopBuild as a leader in the $5 billion mechanical insulation market, enhancing its footprint in key markets and providing a steady revenue stream from DI's Maintenance, Repair and Operations (MRO) business. TopBuild expects to achieve significant run-rate cost synergies of $35 million to $40 million over the next two years and anticipates the deal to be accretive to GAAP EPS in the first full year post-close.

TopBuild Corp. (NYSE:BLD) has acquired Valley Gutter Supply, a fabricator and distributor of gutter products in Los Angeles. Founded in 2007, Valley Gutter generated approximately $10 million in revenue for the twelve months ending June 30, 2021. This acquisition enhances TopBuild's distribution capacity in California. So far in 2021, TopBuild has completed six acquisitions expected to generate around $230 million in annual revenue. The deal marks a strategic move to solidify TopBuild’s presence in the building materials market.