TopBuild (BLD) completed its previously-announced acquisition of Progressive Roofing, a portfolio company of Bow River Capital, in an all-cash transaction valued at $810M. Founded in 1978, Progressive Roofing is a leader in commercial roofing installation services in the United States, with a comprehensive offering that includes re-roofing, recurring maintenance services, and new construction. The company serves attractive commercial verticals, including education, technology, industrial, healthcare and government. Progressive generated $438M in revenue and $89M in EBITDA for the trailing 12 months ended March 31, 2025. Approximately 70% of the company’s revenue is related to non-discretionary re-roofing and maintenance, while approximately 30% is from new construction. Based in Phoenix, Progressive employs more than 1,700 people across 12 branches.
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