Installed Building Products Acquires Therm-Con & Foamtech
Originally published by: Installed Building Products — August 19, 2019
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Installed Building Products, Inc., an industry-leading installer of insulation and complementary building products, announced the acquisition of Therm-Con, LLC and Foamtech, Inc. (collectively, “Therm-Con”). Founded in 2005, Therm-Con primarily serves the Tennessee market, as well as the Georgia and Alabama markets through a branch location in Chattanooga, Tennessee. The company provides insulation, fireplace, shower doors, closet shelving, and mirror installation services primarily for residential customers.
“With trailing twelve-month revenue of $4.7 million, Therm-Con enhances our presence in attractive markets throughout Tennessee and its surrounding states,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date, we have acquired over $30 million of annual revenues, which primarily consists of insulation installers. 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.”