Installed Building Products (IBP) Announces the Acquisition of Alert Insulation
Get Alerts IBP Hot Sheet
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.7%
EPS Growth %: +7.4%
Join SI Premium – FREE
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 Alert Insulation. Founded in 1992, Alert Insulation is headquartered in La Puente, California and primarily provides fiberglass insulation installation, fireproofing services, and acoustical ceiling system installation to commercial customers.
“With approximately $21 million of annual revenue, Alert Insulation significantly expands our commercial insulation installation services throughout California,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date in 2021, we have acquired over $55 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 would like to welcome Alert Insulation onto our team.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Glacier Bancorp (GBCI) Approved to Acquire Six Montana Branches From HTLF Bank (HTLF)
- MediaCo (MDIA) Acquires Estrella Media’s Content and Digital Operations
- Infosys (INFY) to Acquire in-tech
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!