RTTNews | Sep 8, 2021 07:44AM EDT

07:43 Wednesday, September 8, 2021 (RTTNews.com) - Private equity investor Advent International announced Wednesday an agreement to sell Distribution International Inc. or DI, to TopBuild Corp. (BLD) in an all-cash transaction valued at $1.0 billion.

TopBuild, a leading installer and distributor of insulation and building material products to the U.S. construction industry, expects to fund the acquisition using a combination of debt financing and cash on hand.

The acquisition of Distribution International is highly strategic for TopBuild and aligns with its strategy of seeking well-managed companies with experienced, talented teams with expertise in our core business of insulation and adjacent products.

DI provides TopBuild with a direct entry and immediate leadership position in the $5 billion mechanical insulation market, which is a highly attractive and complementary new growth platform for TopBuild.

The transaction, which has been approved by TopBuild's Board of Directors, is subject to regulatory approval and other customary closing conditions and is expected to close in the fourth quarter of 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3224022/advent-int-l-to-divest-distribution-international-to-topbuild-for-1-bln-all-cash-deal-quick-facts.aspx)

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