– Two Acquisitions Add Approximately $7.5 Million of Combined Annual
Revenue –
COLUMBUS, Ohio--(BUSINESS WIRE)--Dec. 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 nation’s 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 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, 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.
Forward-Looking Statements
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 Company’s 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181210005749/en/
Source: Installed Building Products, Inc.
Investor Relations:
614-221-9944
investorrelations@installed.net
