Installed Building Products Announces the Acquisition of Astro Insulation
September 18 2017 - 5:15PM
Business Wire
– Acquisition Adds $7.0 Million of
Trailing-Twelve Month Revenue –
Installed Building Products, Inc. (the “Company” or “IBP”)
(NYSE: IBP), an industry-leading installer of insulation and
complementary building products, announced today the acquisition of
All In Insulation, LLC d/b/a Astro Insulation. Founded in 1997,
Astro Insulation serves the Chicago market through two branch
locations. The company provides primarily spray foam and fiberglass
insulation installation services for single-family residential and
multi-family customers.
“With trailing-twelve month revenues of $7.0 million, Astro
Insulation expands our footprint in Chicago through two
complementary branch locations,” stated Jeff Edwards, Chairman and
Chief Executive Officer. “Astro Insulation has created a strong
brand within its markets and focuses on developers who specialize
on high-end custom homes and renovation projects. Since the
beginning of the year, we have completed nine acquisitions and our
pipeline of potential acquisitions remains robust.”
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest
insulation installers for the residential new construction market
and is also a diversified installer of complementary building
products, including waterproofing, fire-stopping and fireproofing,
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 with respect
to 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
factors discussed in the “Risk Factors” section of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2016, 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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version on businesswire.com: http://www.businesswire.com/news/home/20170918006453/en/
Installed Building Products, Inc.Investor Relations,
614-221-9944investorrelations@installed.net
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