COLUMBUS, Ohio--(BUSINESS WIRE)--
Installed Building Products, Inc. (the "Company" ) (NYSE:IBP), an
industry-leading installer of insulation products, announced today that
the Company completed the acquisition of U.S. Insulation Corp., a
Connecticut-based installer of fiberglass and spray foam insulation and
complementary products including gutters and waterproofing. U.S.
Insulation Corp. has primarily served the Hartford and Danbury,
Connecticut areas through two branches for nine years and has an
established and respected market presence, with net revenue of
approximately $9 million for its full fiscal year ended December 31,
"We are pleased to announce the addition of U.S. Insulation Corp. to the
IBP team as we continue to expand our national platform," stated Jeff
Edwards, Chairman and Chief Executive Officer of IBP. "The addition of
these two established branch locations deepens our presence in the New
York Tri-State region and we expect these locations to contribute
positively to our overall operations immediately."
About Installed Building Products
Installed Building Products, Inc. is the nation's second largest
insulation installer for the residential new construction market and
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 diverse
portfolio of services for new and existing single-family residential,
multifamily, and commercial building projects from its national network
of branch locations.
This press release contains forward-looking statements within the
meaning of the federal securities laws, including with respect to the
impact of the acquisition of U.S. Insulation Corp. on and its
contributions to our operations. 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. As a result, actual events may
differ materially from those expressed in or suggested by the
forward-looking statements. Any forward-looking statement made by the
Company in this press release speaks only as of the date hereof. New
risks and uncertainties come up 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.
Installed Building Products, Inc.
Investor Relations, 614-221-9944
Source: Installed Building Products, Inc.
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