COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced it has acquired the North Charleston, SC and Pooler, GA branches from Energy One America, LLC. The acquired branches will operate under the names, Charleston Insulation and Foam and Savannah Insulation and Foam, respectively. Both branches offer spray foam, fiberglass, and air barrier installation services to residential, multi-family and commercial customers.
“With total annual revenue of approximately $22 million, these branches expand our presence in two attractive markets. In addition, each branch provides multiple installation services, and end market diversification that fits extremely well within our overall growth strategy,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date, we have acquired approximately $39 million of annual revenues. Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets. On behalf of everyone at Installed Building Products, I’d like to welcome the Charleston Insulation and Savannah Insulation teams to our company.”
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely 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 over 180 branch locations.
