– Acquisition Adds $15 Million of Trailing Twelve-Month Revenue –
COLUMBUS, Ohio--(BUSINESS WIRE)--Mar. 19, 2018--
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 Custom Overhead Door, LLC,
dba Custom Door & Gate (“CDG”). Founded in 1989, CDG has four locations
throughout North Carolina and provides garage door, gates and access
control systems and maintenance services to commercial and residential
customers.
“With 2017 revenue of approximately $15 million, CDG expands our product
offerings throughout several compelling North Carolina commercial and
residential markets,” stated Jeff Edwards, Chairman and Chief Executive
Officer. “CDG enhances our garage door installation capabilities and
continues to diversify our products and end markets. This is our third
acquisition in 2018, which combined have added approximately $22 million
in annual revenue. Acquisitions remain a key component of our growth
plan and we have a robust pipeline of acquisition opportunities in 2018.”
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 our
financial and business model, demand for our services and product
offerings, expansion of our national footprint and diversification, our
ability to capitalize on the new home and commercial construction
recovery, our ability to grow and 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,” “estimate,” “project,” “predict,” “possible,” “forecast,”
“may,” “could,” “would,” “should,” "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/20180319006154/en/
Source: Installed Building Products, Inc.
Installed Building Products, Inc.
Investor Relations, 614-221-9944
investorrelations@installed.net
