Mechanical Insulation Distributor Expands TopBuild's Commercial and Industrial Offerings and Builds on Metro Supply's Strong Customer Relationships; Approximately $35 Million in Annual Revenue
DAYTONA BEACH, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD), a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and Canada, has entered into an agreement to acquire Metro Supply Company, a leading commercial and industrial mechanical insulation distributor with approximately $35 million in annual revenue. Metro Supply Company operates two branches and serves the New York/New Jersey and Baltimore/Washington metropolitan areas. The transaction is expected to close in the fourth quarter.
Robert Buck, President and CEO of TopBuild, said, "We are pleased to further extend our ability to serve commercial and industrial customers through the acquisition of Metro Supply. Like TopBuild, Metro Supply differentiates itself by offering customers the highest quality products and exceptional service. As we continue to evaluate acquisition opportunities, we remain focused and disciplined around our core competencies, driving future growth opportunities and increasing shareholder returns.”
"We believe our mechanical insulation distribution business can strengthen TopBuild's Specialty Distribution offerings,” said Charlie Lisa Jr., President of Metro Supply Company. "The acquisition represents an opportunity for us to continue growing our mechanical and acoustical insulation portfolio, while staying committed to our local operations and outstanding service for customers.”
About TopBuild
TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada. We provide insulation installation services nationwide through our Installation segment which has approximately 240 branches located across the United States. We distribute building and mechanical insulation, insulation accessories and other building product materials for the residential, commercial, and industrial end markets through our Specialty Distribution business. Our Specialty Distribution network encompasses approximately 170 branches. To learn more about TopBuild please visit our website at www.topbuild.com.
About Metro Supply Company
Metro Supply Company is a leading commercial / industrial mechanical insulation distributor in the New York/New Jersey and Baltimore/Washington metropolitan areas. Metro Supply prides itself on having exceptional customer service and providing the highest quality products produced by only the top manufacturers.
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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