Top Build, a spin-off corporation from Masco, began trading on the New York Stock Exchange this morning. The spin-off was completed when Masco shareholders were distributed one share of TopBuild common stock for every nine shares of Masco stock held as of June 19, according to a press release.
Top Build consists of the insulation installation and distribution arms of Masco. Top Build provides installation primarily through its contractor services which consists of 190 branches. It maintains 72 distribution centers through its service partners business.
The new Top Build will be led by CEO Jerry Volas, formerly the group president of North American Diversified Businesses at Masco.