Installed Building Products Inc., a Columbus-based installer of insulation and complementary building products, has acquired Gulf Coast Insulation in Florida. The transaction adds approximately $4.7 million in annual revenue to IBP.
Founded in 2009, Gulf Coast Insulation serves the Florida Panhandle market through one location. The company provides spray foam and fiberglass insulation installation services primarily to residential customers.
“With trailing 12-month revenue of $4.7 million, Gulf Coast Insulation provides us access to attractive markets throughout the Florida Panhandle,” IBP Chairman and CEO Jeff Edwards stated. “Gulf Coast Insulation is ideally located between Pensacola and Tallahassee and about 75 percent of its annual revenue comes from installing spray foam insulation. To date, we have acquired approximately $64 million of annual revenues, which primarily consists of insulation installers in new markets. Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets.”
IBP is one of the nation’s largest new residential insulation installers and is a diversified installer of complementary building products. 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 175 branch locations.