IBP acquires Water-Tite
Installed Building Products, Inc. (IBP), the insulation and complementary building products installation provider, has acquired Water-Tite Solution, Inc.
Founded in 2001, Water-Tite provides commercial waterproofing installation services in the Tampa, Fla. market and has annual revenue of over $6 million. Terms of the deal were not disclosed.
“We are very excited to announce the first bolt-on acquisition within our large commercial platform. During 2018, Alpha (Insulation and Waterproofing) opened a branch in Tampa to capitalize on favorable trends within this market and Water-Tite will immediately expand Alpha’s presence in the Tampa market. So far this year we have closed nine acquisitions representing nearly $60 million of acquire, said Jeff Edwards, chairman and CEO of IBP.
IBP aquired Alpha Insulation and Waterproofing in January 2017.
“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,” Edwards added.
Based in Columbus, Ohio, Installed Building Products portfolio includes the installation of waterproofing, fire-stopping and fireproofing materials along with garage doors, rain gutters, shower doors, closet shelving, and mirrors for residential new construction. IBP manages all aspects of the installation process including direct purchases of materials from national manufacturers, supply of materials to job sites, and installation.
Earlier this month, IBP acquired Trademark Roofing and Gutters in the Raleigh, N.C. market.
Founded in 2001, Water-Tite provides commercial waterproofing installation services in the Tampa, Fla. market and has annual revenue of over $6 million. Terms of the deal were not disclosed.
“We are very excited to announce the first bolt-on acquisition within our large commercial platform. During 2018, Alpha (Insulation and Waterproofing) opened a branch in Tampa to capitalize on favorable trends within this market and Water-Tite will immediately expand Alpha’s presence in the Tampa market. So far this year we have closed nine acquisitions representing nearly $60 million of acquire, said Jeff Edwards, chairman and CEO of IBP.
IBP aquired Alpha Insulation and Waterproofing in January 2017.
“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,” Edwards added.
Based in Columbus, Ohio, Installed Building Products portfolio includes the installation of waterproofing, fire-stopping and fireproofing materials along with garage doors, rain gutters, shower doors, closet shelving, and mirrors for residential new construction. IBP manages all aspects of the installation process including direct purchases of materials from national manufacturers, supply of materials to job sites, and installation.
Earlier this month, IBP acquired Trademark Roofing and Gutters in the Raleigh, N.C. market.