Headquartered in Daytona Beach, FL, TopBuild Corp. is an installer and distributor of insulation and other building products to the U.S. construction industry. TopBuild, which earlier operated as a subsidiary of Masco Corporation, provides insulation and building material services across the nation through TruTeam and Service Partners. The company started trading on the NYSE under the symbol “BLD" from Jul 1, 2015.
The company has two reportable segments — Installation (TruTeam) and Distribution (Service Partners).
The Installation segment (which accounted for 61.4% of total 2023 net sales) installs insulation and other building products through the TruTeam contractor services business, which has approximately 240 branches located across the United States as of Dec 31, 2023. The company installs various insulation applications including fiberglass batts and rolls, blown-in loose fill fiberglass, blown-in loose fill cellulose and polyurethane spray foam. Also, it installs other building products like rain gutters, glass and windows, fire proofing, garage doors, shower enclosures, as well as closet shelving. The installation process includes procurement supplied by leading manufacturers, project scheduling and logistics, multi-phase professional installation, as well as installation quality assurance.
Specialty Distribution segment (43.7%) sells and distributes insulation and other building products including rain gutters, fireplaces, closet shelving and roofing materials through the Service Partners business, which have approximately 150 branches across the United States and 18 distribution centers in Canada as of Dec 31, 2023. Its Service Partners customer base consists of thousands of insulation contractors of all sizes, gutter contractors, weatherization contractors, other contractors, dealers, metal building erectors and modular home builders.
Intercompany eliminations constituted 5.1% of the total net sales in 2023.