PHOENIX — A publicly traded company from Florida has acquired a Phoenix-based roofing business in an $810 million deal.
Daytona Beach-based TopBuild Corp. (NYSE: BLD), which installs and distributes insulation and other building materials to the construction industry, has purchased Progressive Roofing from Bow River Capital, a Denver-based private equity firm.
Bow River on July 15 announced the completion of the Progressive Roofing deal as an all-cash transaction.
"The company's commitment to quality, customer service, culture, and safety solidified its position as a national market leader in commercial roofing, and we believe TopBuild is well-positioned to continue building upon and supporting this strong foundation,” said Greg Hiatrides, managing director and head of private equity at Bow River Capital, in a statement.
