TopBuild to acquire Progressive Roofing from Bow River Capital for $810m.

TopBuild, an installer and specialty distributor of insulation and related building material products, agreed to acquire Progressive Roofing, a commercial roofing installation services provider, from Bow River Capital, a private alternative asset management company, for $810m. “Entering the large and growing Commercial Roofing business through the acquisition of Progressive Roofing is a natural next step for TopBuild. The acquisition of Progressive, one of the largest commercial roofing installers in the United States, will enable us to offer commercial customers more comprehensive building envelope installation solutions. In addition to increasing our revenue exposure to non-discretionary demand drivers, we anticipate that this acquisition will serve as a significant growth platform, both organically as well as through future M&A. Importantly, Progressive’s strategy and business model are closely aligned with ours, and we look forward to welcoming Progressive’s talented management team and employees to TopBuild," Robert Buck, TopBuild President and Chief Executive Officer.