#United States #Denver #Bow River Capital #Progressive Roofing #TopBuild Corp.

Bow River Capital Completes Sale of Progressive Roofing to TopBuild Corp.

On July 15, 2025, Bow River Capital, an alternative asset management firm based in Denver, proudly announced the completion of its sale of Progressive Roofing to TopBuild Corp. This all-cash transaction is valued at a remarkable $810 million, signaling a significant strategic move in the commercial roofing industry.

About Progressive Roofing

Founded in 1978, Progressive Roofing has grown from a family-run business into a prominent player in the commercial roofing market, employing approximately 1,700 professionals across 12 branches nationwide. The company specializes in various services, including re-roofing, routine maintenance, and new construction, with a focus on sectors such as education, technology, industrial, healthcare, and government. Over the past four years, Progressive Roofing has expanded its geographic reach and workforce and completed three strategic acquisitions under the partnership of Bow River Capital.

The company's steady investment in talent, technology, and operational excellence has cemented its reputation as a market leader. Greg Hiatrides, Managing Director at Bow River Capital, remarked on the partnership, saying, "We are incredibly proud of our collaboration with Progressive Roofing, which has resulted in exceptional growth driven by a dedicated team. Their focus on quality, exceptional customer service, and a strong safety culture has positioned them as a leading contractor in the national market."

The Merger with TopBuild Corp.

TopBuild Corp., headquartered in Daytona Beach, Florida, stands as a major player in the U.S. and Canadian construction industry, specializing in insulation installation and distribution. With a vast network of over 200 branches and a comprehensive range of building materials, TopBuild aims to amplify its market share and technological capabilities through this acquisition of Progressive Roofing.

Nick Hadden, the CEO of Progressive Roofing, expressed excitement about the merger with TopBuild. He emphasized the compatibility of corporate cultures and shared values, such as employee safety and customer focus. "Joining forces with TopBuild allows us to continue our commitment to quality and provides a solid foundation for future growth," he noted.

Future Outlook

The transaction marks a pivotal point not only for Progressive Roofing but for the entire roofing industry. With the weight of TopBuild's extensive resources and market experience, Progressive Roofing is expected to further enhance its service quality, operational efficiencies, and innovative roofing technologies.

Bow River Capital has been strategic in fostering growth within its portfolio companies, and this sale reflects its focus on setting enterprises up for future success. The firm is known for collaborating closely with business leaders to drive growth, scalability, and operational excellence.

Moving forward, Progressive Roofing's expansion under TopBuild will be closely observed, particularly as they adapt to changing market demands and advancements in roofing technologies. Both companies share a mission to prioritize safety and customer satisfaction in all endeavors. As the roofing industry evolves, this merger positions both entities to lead the way, setting higher standards for quality and service in the market.

In summary, the successful completion of this sale is a testament to the hard work and dedication of the teams involved and the enduring partnerships formed over the years. As Progressive Roofing embarks on this new chapter with TopBuild, stakeholders remain optimistic about the potential for innovative solutions and enhanced services in the commercial roofing arena.

Conclusion

This acquisition not only strengthens both companies but also contributes positively to the entire construction and roofing industry at large. As Progressive Roofing begins this new journey under the TopBuild umbrella, the commitment to quality and customer-centricity remains at the forefront, promising a dynamic and prosperous future in the years ahead.