TopBuild Corp. (BLD) announced an agreement to acquire Progressive Roofing for $810 million in cash.
The transaction involving TopBuild Corp. (BLD) is expected to be immediately accretive to adjusted earnings per share.
It will be funded with proceeds from TopBuild Corp.’s recently expanded credit facility and cash on hand.
The deal is anticipated to close early in the third quarter of 2025.
Pro forma Net Debt to Adjusted EBITDA for the first quarter of 2025 is approximately 1.6x for TopBuild Corp.
Robert Buck, President and Chief Executive Officer of TopBuild Corp., stated that acquiring Progressive, one of the largest commercial roofing installers in the United States, will enable the company to offer commercial customers more comprehensive building envelope installation solutions.
