Installed Building Products acquires BDI Insulation

Columbus, Ohio-based Installed Building Products has acquired BDI Insulation to help expand its presence in the Western U.S.

Installed Building Products scooped up the company for a price tag of approximately $36.0 million, paid for primarily with existing credit and cash on hand.

BDI is a fiberglass insulation installer serving various markets in Southern California, Washington, Idaho and Utah.

It has nine branch locations, with revenues of approximately $35.0 million for fiscal 2014.

“The acquisition of BDI presents a unique opportunity for us to grow our company through a highly complementary business with strong local brands and exceptional customer loyalty,” stated Jeff Edwards, chairman and CEO of Installed Building Products. “The addition of this Western-United-States-based company further strengthens our platform, enabling us to continue broadening our geographic reach across the nation. We continue to remain focused on selectively acquiring market-leading insulation installers in highly attractive markets.”

With the purchase of BDI, Installed Building Products' total acquired revenue over the trailing 12-month period is approximately $65 million, the company said.