Viking Insulation Co. (“Viking”) announced that it has been acquired by a subsidiary of TopBuild Corp. (“TopBuild”). This transaction is the successful culmination of an initiative led by Peloton Advisory LLC to identify a philosophically-aligned partner that would support the Viking legacy, operations and team in their continued growth in Southern California.
Founded in 1966 in Burbank, California, Viking is a leading independent contractor engaged in commercial and specialty building insulation installation projects across Southern California. As one of the most respected commercial installation contractors in the region, Viking has completed projects for Amazon, Google, Warner Brothers, Universal Studios and Home Depot, some of which eclipse one million square feet of insulation. Viking will continue to be led by President, Casey Kranz.
Casey Kranz, President, commented, “The owners – Kathy Lawrence, a second generation owner, John Zimmerman and myself – deliberately and thoughtfully searched for the next steward of the Viking legacy and employee family that we have created, nurtured and grown. It was of utmost importance that we find a partner that would allow our management team to continue on in their roles and ensure the same culture for our employees and service levels for customers. In TopBuild, we have found a partner with national scope and buying power that allows their 275+ branches to operate locally in the markets they serve.”
Jerry Volas, Chief Executive Officer of TopBuild stated, “Viking Insulation is an outstanding addition to TruTeam®, strengthening our position in Southern California. The company focuses on fiberglass installation in a wide variety of light commercial and residential projects. We are also pleased that Casey Kranz, the President of Viking, will join TruTeam® and continue to manage and grow the business.”
TopBuild (NYSE: BLD) is a leading installer and distributor of insulation and building material products to the U.S. construction industry. TopBuild provides insulation and building material services nationwide through TruTeam®, which has over 200 branches, and through Service Partners® which distributes insulation and building products from over 75 branches. TopBuild leverages its national footprint to gain economies of scale while capitalizing on its local market presence to forge strong relationships with its customers.
Peloton Advisory LLC provides M&A and business advisory services to highly successful, privately owned entrepreneurial companies and their owners.