M&A Deal Summary |
|
|---|---|
| Date | 2025-10-08 |
| Target | Specialty Products & Insulation |
| Sector | Distribution |
| Buyer(s) | TopBuild |
| Sellers(s) | Incline Equity Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 1.0B USD |
| Advisor(s) | Piper Sandler & Co. (Financial) Kirkland & Ellis (Legal) |
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| Category | Company |
|---|---|
| Founded | 2015 |
| Sector | Construction |
| Employees | 13,984 |
| Revenue | 5.3B USD (2024) |
TopBuild is a provider of construction and installation services for the residential and commercial building industries. TopBuild offers a comprehensive range of solutions, including insulation, waterproofing, fireproofing, and installation services for a variety of building components. TopBuild was founded in 2015 and is based in Daytona Beach, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 31 of 34 |
| Sector: Distribution M&A | 5 of 6 |
| Type: Add-on Acquisition M&A Deals | 31 of 34 |
| State: North Carolina M&A | 1 of 1 |
| Country: United States M&A | 31 of 34 |
| Year: 2025 M&A | 3 of 6 |
| Size (of disclosed) | 2 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-07-08 |
Progressive Roofing
Phoenix, Arizona, United States Progressive Roofing is a full-service commercial roofing business providing re-roofing, new construction, service, and emergency repair solutions to customers across the education, government, industrial, healthcare, hospitality, and retail landscape. Progressive Roofing was founded in 1948 and is based in Phoenix, Arizona. |
Buy | $810M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-03 |
Insulation Fabrics
Alpharetta , Georgia, United States Insulation Fabrics is a distributor of insulation netting, vacuum bags for insulation removal, and protective equipment for insulation contractors and distributors. Insulation Fabrics is based in Alpharetta, Georgia. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1982 |
| PE ASSETS | 5.8B USD |
| Size | Mega |
| Type | Sector Agnostic |
Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.
| DEAL STATS | # |
|---|---|
| Overall | 43 of 43 |
| Sector: Distribution M&A | 7 of 7 |
| Type: Add-on Acquisition M&A Deals | 13 of 13 |
| State: North Carolina M&A | 3 of 3 |
| Country: United States M&A | 42 of 42 |
| Year: 2025 M&A | 3 of 3 |
| Size (of disclosed) | 1 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-10-02 |
Charter Industries
Kentwood, Michigan, United States Charter Industries is a supplier of PVC and wood edgebanding, T-molding and veneer sheets to specialty carpenters and furniture installers. The company serves thousands of furniture and case good manufacturers operating in the education, healthcare, retail, hospitality, commercial, recreational vehicle, and residential markets. Charter Industries is based in Kentwood, Michigan. |
Sell | - |
