IBP acquires pair of spray-foam installers
Installed Building Products, Inc. (IBP) has acquired 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-family 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.
Terms of the acquisitions were not disclosed by IBP.
“With combined trailing twelve-month revenue of $5.2 million, the acquisitions of Northeast and MSI enhance our presence in two compelling housing markets,” said Jeff Edwards, chairman and CEO of IBP.
Acquisitions remain a key component IBP’s growth plan. In August, IBP acquired Therm-Con, LLC and Foamtech, Inc.
"To date, we have acquired over $36 million of annual revenues, which primarily consists of insulation installers,” Edwards said.
Based in Columbus, Ohio, IBP operates more than 175 branches. In addition to providing insulation installation, IBP is an installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors.
Northeast provides spray foam, fiberglass, and cellulose insulation installation services, as well as thermal barrier services for residential single-family 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.
Terms of the acquisitions were not disclosed by IBP.
“With combined trailing twelve-month revenue of $5.2 million, the acquisitions of Northeast and MSI enhance our presence in two compelling housing markets,” said Jeff Edwards, chairman and CEO of IBP.
Acquisitions remain a key component IBP’s growth plan. In August, IBP acquired Therm-Con, LLC and Foamtech, Inc.
"To date, we have acquired over $36 million of annual revenues, which primarily consists of insulation installers,” Edwards said.
Based in Columbus, Ohio, IBP operates more than 175 branches. In addition to providing insulation installation, IBP is an installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors.