Acquisitions mount for Installed Building Products
Installed Building Products has acquired H2H Blinds, LLC, which has three locations in Georgia and North Carolina.
Founded in 2008, H2H specializes in installing blinds and shutters primarily for the residential construction market and had revenue of $7.5 million in the past 12 months. Terms of the deal were not disclosed.
The move marks Installed Building Products seventh acquisition in recent months, including Rocket Insulation & Coatings Inc., serving the Long Island, N.Y., market; Allstate Insulation in Kentucky; Tennessee-based Blind Ambitions; Youngsville, N.C.-based AllPro Insulation; and A+ Insulation, serving the Kansas City market.
Last month, Installed Building Products bought Custom Overhead Door, LLC, with four locations in North Carolina and revenue of $15 million. When combined, all of the recently acquired companies account for about $44 million in added annual revenue.
“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,” said Jeff Edwards, chairman and CEO of Installed Building Products.
In 2017, Installed Building Supply’s net revenue increased more than 28% to nearly $300 million partly fueled by acquisitions and a goal of diversifying its portfolio. As of Dec. 31, 2017, 67% of the Columbus, Ohio-based company’s revenue stemmed from insulation compared to 74% in 2013.
Regarding the latest acquisition, Edwards said, “H2H deepens our presence within strong housing markets. Reflecting compelling opportunities in the blind and shutter market, this is IBP’s second meaningful acquisition of a blind and shutter installer over the past four months.”
Aside from being one of the largest insulation installers for the U.S. residential new construction market, Installed Building Materials offerings include waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors.
Founded in 2008, H2H specializes in installing blinds and shutters primarily for the residential construction market and had revenue of $7.5 million in the past 12 months. Terms of the deal were not disclosed.
The move marks Installed Building Products seventh acquisition in recent months, including Rocket Insulation & Coatings Inc., serving the Long Island, N.Y., market; Allstate Insulation in Kentucky; Tennessee-based Blind Ambitions; Youngsville, N.C.-based AllPro Insulation; and A+ Insulation, serving the Kansas City market.
Last month, Installed Building Products bought Custom Overhead Door, LLC, with four locations in North Carolina and revenue of $15 million. When combined, all of the recently acquired companies account for about $44 million in added annual revenue.
“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,” said Jeff Edwards, chairman and CEO of Installed Building Products.
In 2017, Installed Building Supply’s net revenue increased more than 28% to nearly $300 million partly fueled by acquisitions and a goal of diversifying its portfolio. As of Dec. 31, 2017, 67% of the Columbus, Ohio-based company’s revenue stemmed from insulation compared to 74% in 2013.
Regarding the latest acquisition, Edwards said, “H2H deepens our presence within strong housing markets. Reflecting compelling opportunities in the blind and shutter market, this is IBP’s second meaningful acquisition of a blind and shutter installer over the past four months.”
Aside from being one of the largest insulation installers for the U.S. residential new construction market, Installed Building Materials offerings include waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors.