Installed Building Products Inc., an installer of insulation and complementary building products, has acquired Northeast Spray Insulation Inc. and Minnesota Spray-Foam Insulation. With combined trailing 12-month revenue of $5.2 million, the acquisitions of Northeast and MSI should enhance IBP’s presence in two compelling housing markets.
Northeast provides spray foam, fiberglass and cellulose insulation installation services, as well as thermal barrier services for residential single- and multi-family customers throughout Maine and New Hampshire. Founded in 2001, Northeast has annual revenue of approximately $3.6 million.
MSI provides spray foam, fiberglass and cellulose insulation installation services to residential customers throughout Minnesota. Founded in 2001, MSI has annual revenue of approximately $1.6 million.
“To date, we have acquired over $36 million of annual revenues, which primarily consists of insulation installers. 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 Chairman and CEO Jeff Edwards said, in a statement.