PE Deals

TopBuild buys manufacturer SPI from Incline Equity Partners

TopBuild is an installer and distributor of insulation and building material products.

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  • Incline acquired SPI in December 2021
  • Based in Pittsburgh, Incline was founded in 2001

Incline Equity Partners has agreed to sell Charlotte, North Carolina-based Specialty Products and Insulation, a distributor and fabricator of insulation and complementary products, to TopBuild. No financial terms were disclosed.

TopBuild is an installer and distributor of insulation and building material products.

Incline acquired SPI in December 2021.

“To improve the pace of acquisition activity, we invested in a dedicated M&A and integration team,” said Michael Antonelli, managing director at Incline in a statement. “In addition, we optimized the go-to-market strategy and hired key sales leaders to help accelerate organic growth. We are proud of what we have accomplished with Ray and the SPI team.”

Based in Pittsburgh, Incline was founded in 2001.