SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 10, 2018
Date of Report (Date of earliest event reported)
Installed Building Products, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
495 South High Street, Suite 50
Columbus, Ohio 43215
(Address of principal executive offices, including zip code)
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 7.01|| |
Regulation FD Disclosure
On December 10, 2018, the Company issued a press release announcing the completion of its acquisitions of Carolina Glass & Mirror, Inc. and Hamilton Benchmark, Inc. A copy of the press release is furnished as Exhibit 99.1 to this report.
The information contained in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Furthermore, the information contained in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed to be incorporated by reference into any registration statement or other document filed with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in such filing.
|Item 9.01|| |
Financial Statements and Exhibits
|99.1||Press Release of Installed Building Products, Inc. dated December 10, 2018.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INSTALLED BUILDING PRODUCTS, INC.
|Date: December 10, 2018||By:|
|Executive Vice President and|
Chief Financial Officer
INSTALLED BUILDING PRODUCTS ANNOUNCES ACQUISITIONS OF CAROLINA
GLASS & MIRROR AND HAMILTON BENCHMARK
Two Acquisitions Add Approximately $7.5 Million of Combined Annual Revenue
Columbus, Ohio, December 10, 2018. Installed Building Products, Inc. (the Company or IBP) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisitions of Carolina Glass & Mirror, Inc. (Carolina Glass) and Hamilton Benchmark Inc. (Hamilton Benchmark).
Carolina Glass installs commercial and residential glass applications with one location in Garner, North Carolina, and serving the greater Raleigh market. Founded in 1993, Carolina Glass has annual revenue of approximately $6.2 million.
Hamilton Benchmark installs fire-stopping solutions to the large commercial construction market with one location near Milwaukee, Wisconsin. Founded in 1999, Hamilton Benchmark has annual revenues of approximately $1.3 million.
We are excited to expand our presence in North Carolina, which represents one of the nations strongest real estate markets, stated Jeff Edwards, Chairman and Chief Executive Officer. With the addition of Carolina Glass, IBP now offers insulation, shower enclosures and mirrors, garage doors, gutters, blinds, and roofing installation services to commercial and residential customers throughout the greater Raleigh market. I am also pleased to announce the acquisition of Hamilton Benchmark, which represents the second acquisition in our Alpha commercial installation platform.
So far this year we have closed 12 acquisitions representing approximately $83 million of acquired 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, concluded Mr. Edwards.
About Installed Building Products
Installed Building Products, Inc. is one of the nations 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, shower doors, closet shelving and mirrors, garage doors, gutters, blinds, and roofing, 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.
This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to our financial and business model, the demand for our services and product offerings, expansion of our national footprint and end markets, diversification of our products, expansion of our business in North Carolina, expansion of our commercial business, our ability to capitalize on the new home and commercial construction recovery, our ability to strengthen our market position, our ability to pursue
and integrate value-enhancing acquisitions, our ability to improve sales and profitability, and expectations for demand for our services and our earnings in 2018. 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 Companys Annual Report on Form 10-K for the year ended December 31, 2017, 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.