TopBuild, an installer and specialty distributor of insulation and building material products, to acquire Specialty Products & Insulation, a provider of bulk solutions for insulation & building materials, from Incline Equity Partners, a private equity firm, for $960m. “The acquisition of SPI is highly strategic for TopBuild, accelerating Specialty Distribution’s growth and enhancing our leadership position in the very diverse and fragmented insulation industry. In addition, SPI generates significant recurring revenue from industrial maintenance and repair. When combined with our Specialty Distribution business today, we estimate recurring revenue will account for approximately one third of the segment’s overall revenue stream," Robert Buck, TopBuild President and CEO.