ACQUIRED · 2025
Who Acquired Specialty Products and Insulation (SPI)?
TopBuild Corp. · $1.00B· 13.3× EBITDA
The acquisition
Specialty Products and Insulation (SPI) (National) was acquired by TopBuild Corp. in 2025 for $1.00B. Leading specialty distributor and fabricator of mechanical insulation solutions for commercial, industrial and residential end markets. The deal was priced at 13.3× EBITDA / 1.43× revenue.
Specialty Products and Insulation (SPI) at time of acquisition
Revenue
$700.0M
EBITDA
$75.0M
Deal value
$1.00B
EV / EBITDA
13.3×
Other acquisitions by TopBuild Corp.
Recent transactions by the same buyer — useful for understanding their playbook and what they typically pay.
- Progressive Roofing · 2025 · $810.0M · 9.1× EBITDA
Similar roofing acquisitions
- Progressive Roofing · acquired by TopBuild Corp. in 2025 · $810.0M
- Roofing Corp of America · acquired by FirstService Corporation in 2023 · $413.0M
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Sourced from Press Release. Primary source. Full deal page.
Citation: ExitValue.ai. (2025). Specialty Products and Insulation (SPI) acquired by TopBuild Corp.. https://exitvalue.ai/acquired/specialty-products-and-insulation-spi