TopBuild

What TopBuild does

TopBuild Corp. (NYSE: BLD) is a leading North American installer and specialty distributor serving the construction industry, operating two integrated segments through a network of more than 450 branches across the United States and Canada. The Installation Services segment (~56% of sales) operates over 200 branches providing nationwide insulation and commercial roofing installation through brands including TruTeam, Progressive Roofing, and TopBuild Home Services. The Specialty Distribution segment (~44% of sales) operates over 250 branches supplying contractors with building and mechanical insulation, accessories, and related products through brands including Service Partners, Distribution International, Specialty Products and Insulation (SPI), Silvercote, and Crossroads C&I. End-markets span residential, light commercial, heavy commercial, industrial, metal building, and marine insulation applications.

TopBuild generates revenue primarily through installation labor and materials (professional services model) and distribution margins on insulation and building products (wholesale model). Pricing is B2B and project-based, with contract relationships with homebuilders, commercial builders, industrial contractors, and specialty contractors. The company operates a "Connected Technology Platform" supporting operational efficiency across branches but does not disclose material AI/ML capabilities. The business has grown primarily through acquisition: TopBuild has completed 49 acquisitions since its 2015 spin-off from Masco Corporation, including major 2025 deals for Progressive Roofing ($438M) and SPI ($698.8M), expanding roofing and mechanical insulation capabilities.

The company is subject to a definitive merger agreement announced April 19, 2026 under which QXO Inc. will acquire TopBuild for approximately $17 billion (~$505 per share, cash-and-stock deal at 45% cash / 55% stock), expected to close in Q3 2026. TopBuild generated $5.41 billion in 2025 net sales and approximately $1.04 billion in adjusted EBITDA, and was founded as a public company in 2015 (with operating history traceable to 1929 through predecessor Masco businesses). The company employs approximately 14,000 people and is headquartered in Daytona Beach, Florida.

Name

TopBuild

Legal name

TopBuild Corp.

Website

https://topbuild.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

10,001+ employees

Short description

TopBuild Corp. (NYSE: BLD) is a leading North American installer and specialty distributor of insulation and commercial roofing products, operating over 450 branches across the US and Canada. The company serves residential, commercial, and industrial construction end-markets through two segments: Installation Services (~56% of sales) and Specialty Distribution (~44% of sales).

Ownership category

akta.pro rank

Headquarters

HQ city

Daytona Beach

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Installation Services: Provides nationwide insulation and commercial roofing installation services through a network of over 200 branches. Revenue generated from installation labor and materials for residential, commercial, and industrial projects. The segment contributed approximately 56% of total sales.
2. Specialty Distribution: Distributes building and mechanical insulation, accessories, and related products to contractors through over 250 branches. Supplies residential, commercial, and industrial end markets. The segment contributed approximately 44% of total sales.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

TopBuild operates two business segments: an Installation Services segment providing nationwide insulation and commercial roofing installation through a network of over 200 branches under brands including TruTeam and Progressive Roofing, and a Specialty Distribution segment distributing building and mechanical insulation, accessories, and related products to contractors through over 250 branches under brands including Service Partners, Distribution International, Specialty Products and Insulation (SPI), Silvercote, and Crossroads C&I. The combined offerings serve residential, commercial, and industrial construction end markets across the United States and Canada.

Product overview

TopBuild is a diversified building products company operating two distinct business segments: Installation Services and Specialty Distribution. The Installation Services segment (56% of sales) operates over 200 branches providing nationwide insulation and commercial roofing installation through brands including TruTeam (residential/commercial insulation), Progressive Roofing (commercial/industrial roofing), and TopBuild Home Services (energy efficiency testing). The Specialty Distribution segment (44% of sales) operates over 250 branches supplying contractors with building and mechanical insulation, accessories, and related products through brands including Service Partners (residential/commercial insulation distribution), Distribution International and Specialty Products and Insulation (mechanical insulation for MRO), Silvercote (metal building insulation), and Crossroads C&I (Canadian industrial/commercial/marine insulation).

Differentiator

Problem solved

Functional benefit

Brands

• TruTeam: Nationwide network of local installation businesses providing homeowners, home builders, and commercial builders with insulation and building products installation services
• Progressive Roofing
• TopBuild Home Services
• Service Partners
• Distribution International
• Specialty Products and Insulation (SPI)
• Silvercote
• Crossroads C&I

Products and services

• TruTeam Insulation Installation

Quantifiable outcome

• Energy efficiency improvements through proper insulation installation
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor, core and moderate.

• Applied Coatings and Upstate Spray FoamminorOthers · 3 February 2026TopBuild acquired Applied Coatings and Upstate Spray Foam in February 2026, companies based in Winfield, New York generating approximately $20 million in annual revenue, serving residential and commercial markets.
• Specialty Products & Insulation (SPI)coreOthers · 1 October 2025TopBuild acquired Specialty Products & Insulation (SPI) in October 2025 as part of its acquisition strategy. SPI is a leading distributor and fabricator of mechanical insulation and related supplies for maintenance, repair, and operations (MRO) in North America.
• Texas InsulationmoderateOthers · 3 June 2024TopBuild acquired Texas Insulation from Energy One America in June 2024, generating approximately $39 million in annual revenue and expanding spray foam capabilities in Dallas, Houston, and Austin markets.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Installed Building Products: Installed Building Products (IBP) is the closest direct competitor to TopBuild's Installation Services segment, providing professional insulation installation alongside complementary building products for residential and commercial customers across the U.S. Both companies share the same end markets (homebuilders, commercial contractors) and compete head-to-head on national accounts, making IBP the most directly comparable peer.
• Foundation Building Materials: Foundation Building Materials (FBM) is a specialty distributor of insulation, gypsum, ceilings, and related building products serving commercial and residential contractors in North America. FBM's distribution-led model and insulation category focus make it a direct comparison to TopBuild's Specialty Distribution segment and a competitor in shared branch geographies.

Broad incumbents

• ABC Supply Co. ABC Supply is the largest wholesale distributor of roofing, siding, windows, and exterior building products in North America with over 900 branches. While not an insulation specialist, ABC Supply competes for specialty distribution shelf space and contractor mindshare in overlapping branch territories, and is being acquired by QXO alongside TopBuild.
• Beacon Roofing Supply (QXO): Beacon Roofing Supply was the largest U.S. roofing and building products distributor before becoming a subsidiary of QXO. QXO is the acquirer of TopBuild and competes in adjacent specialty distribution categories, including roofing, waterproofing, and insulation adjacencies that overlap with Progressive Roofing and TopBuild Distribution International.
• Ferguson Enterprises: Ferguson is the largest U.S. distributor of plumbing, HVAC, and related infrastructure products with $30B+ in revenue. While its core categories differ, Ferguson's branch-based distribution model, project-based B2B sales motion, and specialization in mechanical/building systems make it a useful comparable for distribution unit economics and capital allocation benchmarks.
• Builders FirstSource: Builders FirstSource (BFS) is the largest U.S. supplier of building products, prefabricated components, and value-added services to professional residential contractors. BFS overlaps with TopBuild's residential installation and distribution customer base and competes for share of wallet with national homebuilders.
• Masco Corporation: Masco Corporation is TopBuild's former parent (spin-off completed in 2015) and a major manufacturer of home improvement and building products including BEHR paint, Delta Faucet, and Kwikset. Masco provides a reference benchmark for the building products value chain and represents a potential channel partner and competitor for branded products flowing through TopBuild's distribution network.
• Cornerstone Building Brands: Cornerstone Building Brands is a leading exterior building products manufacturer serving the residential, commercial, and repair/remodel markets. While primarily a manufacturer rather than installer/distributor, Cornerstone competes for the same building envelope spend that flows through TopBuild's residential and light commercial channels.
• SRS Distribution: SRS Distribution is a fast-growing U.S. roofing and building products distributor owned by Home Depot, operating over 700 branches across multiple specialty categories. SRS competes with Service Partners and Distribution International for specialty contractor accounts and represents a relevant comparable for organic-plus-rollup growth in building products distribution.

Others

• Owens Corning: Owens Corning is a major global manufacturer of insulation, roofing, and fiberglass composite materials, and is one of TopBuild's largest suppliers of residential and commercial insulation products. While not a direct competitor in installation or distribution, Owens Corning's pricing and product roadmap materially shape TopBuild's cost structure and category value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/topbuild
• Xx.com/topbuild
• Facebookfacebook.com/TopBuildBLD

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A17 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TopBuild