Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, has acquired ABS Insulating Company, Inc., ABS Sprayfoam Insulation, Inc., and ABS Coastal Insulating Company, LLC (collectively “ABS”). Established in 1991, ABS serves the greater Charlotte, NC and Myrtle Beach, SC markets, installing fiberglass insulation, spray foam insulation, and gutters into new residential projects.
Jeff Edwards, Chairman and Chief Executive Officer, stated, “With approximately $21 million of annual revenue, ABS is a well-established installer throughout the greater Charlotte and Myrtle Beach markets and helps solidify our presence in these compelling geographies. To date in 2022, we have acquired approximately $109 million of annual revenues, exceeding the $100 million expectation announced earlier in the year. Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I want to welcome ABS onto our team,” concluded Mr. Edwards.
