Thermal Acoustic Blanket Insulation Fabricator Strengthens TopBuild’s
Mechanical Insulation Offerings for Commercial and Industrial Customers;
Approximately $11 Million in Annual Revenue
TopBuild Corp., a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and Canada, has entered into an agreement to acquire Shannon Global Energy Solutions, based in North Tonawanda, N.Y., with approximately $11 million in annual revenue. Shannon Global, with a 36-year history of success, designs and fabricates reusable thermal, acoustical and safety products for many large multinational customers. The transaction is expected to close in the fourth quarter.
Robert Buck, President and CEO of TopBuild, said, “We are excited to further build our capabilities in mechanical insulation and expand our fabrication offerings to the commercial and industrial end user markets. We remain focused on acquiring businesses that leverage our core competencies, expand opportunities for future growth and drive shareholder returns. Our pipeline of potential acquisitions remains robust, and we will continue to be disciplined in our use of capital.”
“Our high quality, engineered products, diverse customer base and unique applications are a natural fit for TopBuild’s Specialty Distribution portfolio,” said Frank Kovacs, President and CEO of Shannon Global Energy Solutions. “The acquisition will give us the opportunity to continue to grow the company consistent with our commitment to providing sustainable, reusable energy solutions.”
