Installed Building Products (IBP) Has Solid IPO Debut

February 13, 2014 12:01 PM EST
Today's IPO for Installed Building Products, Inc. (NYSE: IBP) opened for trading at $12.30 after pricing 7,450,000 shares of its common stock at $11. Shares have continued higher to $12.59, or up 14.5%.

Deutsche Bank Securities and UBS Investment Bank are acting as joint bookrunners of the offering. Zelman Partners LLC is acting as lead manager and BB&T Capital Markets, KeyBanc Capital Markets and SunTrust Robinson Humphrey are acting as co-managers for the offering. Moelis & Company LLC is acting as financial advisor to IBP.

IBP, headquartered in Columbus, Ohio, is the second largest new residential insulation installer in the United States based on its internal estimates and an installer of complementary building products, including 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 serves the new single-family residential, new multi-family, repair and remodel and commercial building end markets.

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Deutsche Bank, UBS, KeyBanc, SunTrust Robinson Humphrey, BB&T Capital Markets, IPO