Installed Building Products Announces Closing of Alpha Insulation and Waterproofing Acquisition
January 05 2017 - 4:30PM
Business Wire
Installed Building Products, Inc. (the “Company” or “IBP”)
(NYSE: IBP), an industry-leading installer of insulation and
complementary building products, announced today the closing of its
acquisition of Trilok Industries, Inc., Alpha Insulation and
Waterproofing, Inc., and Alpha Insulation and Waterproofing Company
(collectively known as “Alpha” or “Alpha Insulation and
Waterproofing”). Founded in 1982, Alpha is headquartered in
Atlanta, Georgia and serves commercial customers through an
expanding network of nine branches located in Georgia, Florida,
Texas, Tennessee, and North Carolina.
Alpha Insulation and Waterproofing will continue to operate
under its existing brand name, but will now be able to offer
building solutions nationwide as part of IBP’s footprint of over
100 branch locations throughout the continental U.S. In addition,
Alpha’s commercial insulation, waterproofing, fire stopping and
fireproofing expertise diversifies IBP’s revenue mix, while
enhancing the company’s commercial construction platform.
“We are excited about closing the Alpha acquisition and are
focused on successfully integrating Alpha’s operations over the
coming months, which we expect will be immediately accretive to
earnings,” stated Jeff Edwards, IBP’s Chairman and Chief Executive
Officer. “We have established IBP as a leading installer of
building products and look forward to further growing our business
through Alpha’s commercial construction focus.”
Vic Verma, Chief Executive Officer and Founder of Alpha, stated,
"The entire Alpha team is excited to be part of the IBP family of
companies, and we are committed to grow the Alpha brand with both
organic and acquisition opportunities in 2017 and beyond."
About Installed Building Products
Installed Building Products, Inc. is the nation's second largest
insulation installer for the residential new construction market
and is also a diversified installer of complementary building
products, including garage doors, rain gutters, shower doors,
closet shelving and mirrors, throughout the United States. The
Company manages all aspects of the installation process for its
customers, including direct purchases of materials from national
manufacturers, 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 branch
locations.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including the impact of
the Alpha acquisition on and its contribution to our operations and
execution of our growth strategy, the integration of Alpha’s
operations, the impact of this acquisition on our earnings and
revenue, the demand for our services, expansion of our national
footprint, our ability to capitalize on the new home construction
recovery, our ability to strengthen our market position, our
ability to pursue value-enhancing acquisitions, our ability to
improve profitability and expectations for demand for our services
for the remainder of 2017. Forward-looking statements may generally
be identified by the use of words such as "anticipate," "believe,"
"expect," "intends," "plan," and "will" or, in each case, their
negative, or other variations or comparable terminology. These
forward-looking statements include all matters that are not
historical facts. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Any forward-looking statements that we make herein and in any
future reports and statements are not guarantees of future
performance, and actual results may differ materially from those
expressed in or suggested by such forward-looking statements as a
result of various factors, including, without limitation, the
potential impact to the Company’s or Alpha’s business due to the
closing of the acquisition, the risk that the business of Alpha
will not be integrated successfully, and the factors discussed in
the “Risk Factors” section of the Company’s Annual Report on Form
10-K for the year ended December 31, 2015, as the same may be
updated from time to time in our subsequent filings with the
Securities and Exchange Commission. Any forward-looking statement
made by the Company in this press release speaks only as of the
date hereof. New risks and uncertainties arise from time to time,
and it is impossible for the Company to predict these events or how
they may affect it. The Company has no obligation, and does not
intend, to update any forward-looking statements after the date
hereof, except as required by federal securities laws.
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Installed Building Products, Inc.Investor Relations,
614-221-9944investorrelations@installed.net
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