TopBuild Acquires Creative Conservation
Residential and Light Commercial Insulation
$7.4 Million Annual Revenue
DAYTONA BEACH, Fla., April 07, 2021 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and distributor of insulation and building material products in the United States, has acquired Creative Conservation, a residential and light commercial company serving customers in Richmond, Charlottesville, Roanoke and Northern Virginia. Creative Conservation, which was been in business for 40 years, generated approximately $7.4 million in revenue for the twelve months ended December 31, 2020. Its mix of installation business is evenly divided between fiberglass and spray foam.
Robert Buck, President and CEO of TopBuild, noted, “Creative Conservation is an excellent addition to TopBuild with strong customer relationships, an experienced installer base, and extensive spray foam knowledge and expertise. Tom Sprouse II, one of Creative Conservation’s current owners, will join the TopBuild team to focus on the continued growth of our business in this region.”
Over the past twelve months, TopBuild has completed four acquisitions which are expected to generate approximately $217 million of annual revenue.
TopBuild Corp., a Fortune 1000 Company headquartered in Daytona Beach, Florida, is a leading installer and distributor of insulation and building material products to the U.S. construction industry. We provide insulation and building material services nationwide through TruTeam®, which has close to 200 branches, and through Service Partners® which distributes insulation and building material products from over 75 branches. We leverage our national footprint to gain economies of scale while capitalizing on our local presence to forge strong relationships with our customers. To learn more about TopBuild please visit our website at www.topbuild.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements. Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.
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Released April 7, 2021