TopBuild to Buy Progressive Roofing From Bow River Capital for $810 Million

Dow Jones

07/08

By Colin Kellaher

TopBuild has struck a deal to buy commercial-roofing services provider Progressive Roofing from alternative asset manager Bow River Capital for $810 million in cash.

TopBuild, an installer and distributor of insulation and related building-material products, on Tuesday said Progressive generated $438 million in revenue and $89 million in earnings before interest, taxes, depreciation and amortization for the 12 months ended March 31.

TopBuild, based in Daytona Beach, Fla., earlier this year forecast 2025 revenue of $5.05 billion to $5.35 billion, excluding planned acquisitions.

TopBuild said it plans to fund the acquisition, slated to closed in the third quarter, with cash on hand and proceeds from its recently expanded credit facility.

Denver-based Bow River, an investment-management platform focused on the lower middle market, recapitalized Progressive in 2021.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 08, 2025 07:11 ET (11:11 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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