TopBuild Strengthens Installation Business Via Acquisition Of Texas-Focused Best Insulation
Portfolio Pulse from Shivani Kumaresan
TopBuild Corp (NYSE:BLD) has agreed to acquire all assets of Best Insulation, a residential insulation installer, for an undisclosed sum. Best Insulation, which generated approximately $100 million in revenue for the trailing twelve months ending April 30, 2023, serves markets in Texas, Arizona, Tennessee, and Florida. The transaction is expected to close within seven business days.
July 11, 2023 | 2:27 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
TopBuild's acquisition of Best Insulation could strengthen its installation business and potentially increase its revenues. The company's stock traded higher by 0.38% at $268.55 on the last check Tuesday.
The acquisition of Best Insulation, a company with a strong customer base and an experienced team, could potentially increase TopBuild's revenues and strengthen its installation business. This news is highly relevant to TopBuild and could be important for investors, as it could impact the company's future earnings. The stock's positive price action following the announcement indicates market optimism about the deal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100