08:51 AM EDT, 10/08/2025 (MT Newswires) -- TopBuild ( BLD ) said Wednesday it has acquired mechanical, building and spray foam insulation products supplier Specialty Products and Insulation in a deal worth $1 billion in cash.

TopBuild ( BLD ) completed the purchase of the company from private equity firm Incline Equity Partners on Tuesday. The transaction was funded with cash on hand, including proceeds from TopBuild's ( BLD ) senior notes offering in September, the installer of insulation and commercial roofing said.

Incline will retain Specialty Products and Insulation's metal building insulation business and Dispro, a Canadian mechanical insulation distributor, according to the private equity firm.

"The addition of (Specialty Products and Insulation's) resources and capabilities further enhances our customer value proposition while its complementary fabrication footprint strengthens and expands our presence across North America," TopBuild ( BLD ) Chief Executive Robert Buck said in a statement. "The transaction also drives our growth in non-cyclical revenue streams given that approximately 55% of SPI's revenue relates to recurring maintenance and repair."

TopBuild ( BLD ) expects the acquisition to be immediately accretive to its earnings on a per-share basis and estimates annual run-rate cost synergies of about $35 million to $40 million within two years. The insulation products distributor projects the transaction to strengthen its specialty distribution position and expand its geographic presence.

Specialty Products and Insulation, which is based in North Carolina with about 1,000 employees, generated revenue of roughly $700 million in the 12-month period ended June 30. The company distributes out of 102 facilities throughout the US, Canada and Australia, Incline Equity said.

"We believe TopBuild ( BLD ) is the best strategic owner for our business, better positioning the combined organization to provide customers with innovative and high-quality solutions," according to Specialty Products and Insulation CEO Ray Sears.