Insulation industry news from Global Insulation
Installed Building Products buys Southern Insulators
16 August 2016US: Installed Building Products has acquired Southern Insulators & Specialties, a fibreglass and spray foam insulation installer based in Covington, Louisiana. No value for the purchase was released.
"Southern has a large presence in the state of Louisiana with trailing-12 month revenues of approximately US$5m," said Jeff Edwards, Chairman and Chief Executive Officer. He added that Installed Building Products has completed six acquisitions, representing nearly US$53m of annual revenue, since the start of 2016.
US: Installed Building Products’ (IBP) net revenue has risen by 40% year-on-year to US$404m in the first half of 2016 from US$290m in the same period of 2015. Its net income more than doubled to US$15.8m from US$7.7m. The insulation installation company attributed the strong result to growth in the residential building market.
"Our results continue to benefit from strength throughout the homebuilding industry, growth at our existing branch locations and the contribution of our recently acquired businesses,” said Jeff Edwards, chairman and chief executive officer of IBP.
Installed Building Products buys Alpine Insulation
14 April 2016US: Installed Building Products, an installer of insulation and complementary building products, has purchased Alpine Insulation based in Sheboygan, Wisconsin with five operating locations throughout the state. Alpine provides installation services to the residential and commercial sectors.
"Alpine represents a compelling opportunity for us to enhance our presence in Wisconsin through a complementary business with strong local brands, exceptional customer loyalty and a strong management team. This acquisition brings our total acquired revenue in 2016 to approximately US$44m, as we remain focused on selectively acquiring market-leading installers in highly attractive markets," said Jeff Edwards, chairman and chief executive officer of Installed Building Products.