COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisition of Expert Insulation, Inc. and Expert Insulation of Brainerd, Inc.. Founded in 1998, Expert Insulation serves the Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota markets through branch locations in Rochester and Brainerd, Minnesota. The company provides fiberglass and spray foam insulation installation services, as well as waterproofing services for commercial, residential, and multi-family customers.
“With trailing twelve-month revenue of $12.0 million, Expert Insulation enhances our presence in attractive markets in Minnesota and its surrounding states,” stated Jeff Edwards, Chairman and Chief Executive Officer. “Expert Insulation has a compelling mix of commercial, residential, and multi-family customers, as well as offering both insulation and waterproofing installation services. In addition to Expert Insulation, this quarter we also acquired an insulation installer in Pennsylvania with approximately $3.6 million in annual 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.”
About Installed Building Products
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. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of over 175 branch locations.
