- Acquisition Adds $5.4 Million of Trailing-Twelve Month Revenue -
COLUMBUS, Ohio--(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 acquisition of Rocket Insulation &
Coatings Inc. Founded in 2009, Rocket Insulation serves the Long Island,
New York market through one branch location. The company provides spray
foam and fiberglass insulation installation services primarily for
single-family residential customers.
"With trailing-twelve month revenue of $5.4 million, Rocket Insulation
expands our footprint to the Long Island market," stated Jeff Edwards,
Chairman and Chief Executive Officer. "Prior to this acquisition, IBP
did not have a presence in Long Island, and we are excited to begin
serving primarily single-family residential customers in this large
market."
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 and product offerings, 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 and our ability to improve
profitability. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180116006198/en/
Installed Building Products, Inc.
Investor Relations: 614-221-9944
investorrelations@installed.net
Source: Installed Building Products, Inc.
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