Masco's spun-off business to be named TopBuild Corp.

Masco Corporation has more updates on the spin-off of its Installation and Other Services businesses, expected for completion in mid-2015.

For one, the new independent publicly traded company will be called TopBuild Corp. Additionally, it will be listed on the New York Stock Exchange under the BLD ticker symbol.

TopBuild, to be based in Central Florida, will be 190 installation branch locations strong, in addition to over 70 distribution centers across the U.S.

As for management, Jerry Volas has been tapped to serve as CEO, with Robert Buck as president and COO and John Peterson serving as CFO.

"We are excited about our new name and identity, which reflect our commitment to deliver the highest quality installation services and products and demonstrate our team's commitment to enhancing our strong relationships with our customers and suppliers, which include many of the nation's leading manufacturers of building products," said Jerry Volas, the future CEO of TopBuild. "The TopBuild name communicates our position in the industry, our best-in-class people, service and performance, and our focus on our three lines of business: residential construction, commercial construction and repair/remodel.  We believe TopBuild's focus and growth strategies will enable us to create shareholder value."

The spun-off businesses include insulation installer Masco Contractor Services (MCS) and insulation distributor Service Partners. MCS will operate as TruTeam, while Service Partners will keep its current name.

Combined, they generated revenue of $1.5 billion in 2014 with compounded annual revenue growth of nearly 11% annually since 2010.