Installed Building Products (IBP) Acquires East Coast Insulators
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Installed Building Products, Inc. (NYSE: IBP) announced today the acquisition of East Coast Insulators. Since 1986, East Coast Insulators has provided installation services to residential and commercial customers in the Virginia, West Virginia, Washington DC, and Maryland markets through two Virginia locations.
“With $20 million of annualized revenues, East Coast Insulators has a large presence within strong and growing markets, and this acquisition will help expand our presence in the mid-Atlantic region,” stated Jeff Edwards, Chairman and Chief Executive Officer. Since the beginning of the year, we have completed seven acquisitions representing nearly $73 million of annual revenue and our pipeline of potential acquisitions remains robust. We are focused on selectively acquiring market-leading installers in highly attractive markets and expect 2016 to be another strong year of acquisition growth.”
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