Installed Building Products Buys 2 Spray-Foam Firms
Originally published by: Installed Building Products — September 23, 2019
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Installed Building Products, Inc. , an industry-leading installer of insulation and complementary building products, announced the acquisitions of 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- 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.
“With combined trailing twelve-month revenue of $5.2 million, the acquisitions of Northeast and MSI enhance our presence in two compelling housing markets,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date, we have acquired over $36 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.”
Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States.