m_and_a
confidence high
sentiment positive
materiality 0.85
TopBuild announces $810M all-cash acquisition of Progressive Roofing
TopBuild Corp
- TopBuild to acquire Progressive Roofing for $810M cash; 9.1x TTM EBITDA, 8.6x post-synergies.
- Progressive generated $438M revenue, $89M EBITDA; 70% from non-discretionary re-roofing & maintenance.
- Expected to close early Q3 2025, funded by expanded credit facility and cash; immediately accretive to adjusted EPS.
- Acquisition enables entry into $75B fragmented commercial roofing market; creates growth platform.
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