Installed Building Products acquires Advanced Fiber Technology
Installed Building Products, Inc. has acquired Advanced Fiber Technology (AFT).
Founded in 1988 and located in Bucyrus, Ohio, AFT manufactures cellulose, asphalt, and industrial fibers. The company has annual revenues of approximately $18 million and sells its products to distributors and installers predominately in the Midwest and Northeastern U.S.
“AFT provides us with an opportunity to vertically integrate our cellulose insulation supply in certain markets which we believe will have an immediate and favorable impact on our business and financial results,” said Jeff Edwards, chairman and CEO of Installed Building Products.
Edwards noted that cellulose is an attractive alternative to fiberglass in a variety of insulation applications.
Doug Leuthold, founder of AFT, will remain with the company and help IBP run the facility and grow its cellulose supply chain.
This year, Installed Building Products has closed 10 acquisitions representing about $76 million of acquired revenues.
“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 said.
Based in Columbus, Ohio, Installed Building Products specializes in installed insulation for residential new construction. The company also offers installed complementary building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors.
Founded in 1988 and located in Bucyrus, Ohio, AFT manufactures cellulose, asphalt, and industrial fibers. The company has annual revenues of approximately $18 million and sells its products to distributors and installers predominately in the Midwest and Northeastern U.S.
“AFT provides us with an opportunity to vertically integrate our cellulose insulation supply in certain markets which we believe will have an immediate and favorable impact on our business and financial results,” said Jeff Edwards, chairman and CEO of Installed Building Products.
Edwards noted that cellulose is an attractive alternative to fiberglass in a variety of insulation applications.
Doug Leuthold, founder of AFT, will remain with the company and help IBP run the facility and grow its cellulose supply chain.
This year, Installed Building Products has closed 10 acquisitions representing about $76 million of acquired revenues.
“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 said.
Based in Columbus, Ohio, Installed Building Products specializes in installed insulation for residential new construction. The company also offers installed complementary building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors.