TopBuild Receives Early Termination of Hart-Scott-Rodino Waiting Period for USI Acquisition

Plans to Close Acquisition on May 1

• Expands geographic footprint and penetration in key growth regions
• Enhances value proposition for customers
• Expected to be accretive to GAAP EPS in the 12-month period after close
• Expected to enhance pro forma EBITDA margin and free cash flow profile
• Anticipate $15M of run-rate cost synergies

DAYTONA BEACH, Fla., April 16, 2018 -- TopBuild Corp. (NYSE:BLD), the leading purchaser, installer and distributor of insulation products to the U.S. construction industry, has received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with its proposed acquisition of United Subcontractors, Inc. (“USI”).  As previously announced on March 2, 2018, TopBuild entered into an agreement to acquire USI from Trilantic Capital Partners North America in an all-cash transaction valued at $475 million. The Company currently plans to complete the acquisition on May 1, 2018.   

Jerry Volas, Chief Executive Officer of TopBuild, stated, “We expect that this pivotal transaction will enhance TopBuild’s position as the leading installer and distributor of insulation in the U.S. and fortify our position in high growth markets.  We plan to leverage our track record of strong execution to make this combination a great success for all stakeholders.” 

About TopBuild
TopBuild Corp., headquartered in Daytona Beach, Florida, is the leading purchaser, installer and distributor of insulation products to the U.S. construction industry. We provide insulation services nationwide through TruTeam^®, which has over 175 branches and our Service Partners^® business distributes insulation from over 70 branches. We leverage our national footprint to gain economies of scale while capitalizing on our local market presence to forge strong relationships with our customers.  To learn more about TopBuild please visit our website at www.topbuild.com.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act.  These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results.  These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods.  These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements.  Our forward-looking statements contained herein speak only as of the date of this press release.  Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements.  Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

Investor Relations and Media Contact
Tabitha Zane
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