QXO Insulation, LLC

TopBuild Corp. is a leading installer of insulation and commercial roofing and a specialty distributor of insulation and other building products to the construction industry in the United States and Canada. The company began trading on the NYSE under the symbol "BLD" on July 1, 2015. TopBuild operates in two segments: Installation Services and Specialty Distribution. The Installation Services segment accounts for approximately 59% of the company's sales, while the Specialty Distribution segment accounts for approximately 41% of sales. The Installation Services segment provides insulation and commercial roofing services nationwide through more than 200 branches located throughout the continental United States. The company's combined buying power and scale strengthen its ties to major manufacturers of insulation, commercial roofing, and other building products, enabling competitive purchasing and ensuring supply availability. Being a leader in both installation services and specialty distribution allows TopBuild to reach a broad set of builders and contractors in the U.S. and Canada, leveraging residential, commercial, and industrial construction growth. During housing industry downturns, insulation contractors often return to purchasing through specialty distributors, which helps reduce the company's exposure to cyclical swings. TopBuild has also increased its exposure to non-cyclical revenue through maintenance and other recurring installation services via acquisitions.