COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisitions of Northeast Spray Insulation, Inc., and Minnesota Spray-Foam Insulation.
Northeast provides spray foam, fiberglass, and cellulose insulation installation services, as well as thermal barrier services for residential single- and multi-family customers throughout Maine and New Hampshire. Founded in 2001, Northeast has annual revenue of approximately $3.6 million.
MSI provides spray foam, fiberglass, and cellulose insulation installation services to residential customers throughout Minnesota. Founded in 2001, MSI has annual revenue of approximately $1.6 million.
“With combined trailing twelve-month revenue of $5.2 million, the acquisitions of Northeast and MSI enhance our presence in two compelling housing markets,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date, we have acquired over $36 million of annual revenues, which primarily consists of insulation installers. Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets.”
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of over 175 branch locations.
