Installed Building Products Inc., a Columbus-based installer of insulation and complementary building products, has acquired Royals Commercial Services Inc. in Millersville, Maryland. With approximately $10 million of annual revenue, the transaction expands IBP’s presence in the greater Baltimore and mid-Atlantic markets.
Founded in 1990, Royals Commercial provides spray foam insulation and thermal barrier installation services primarily for commercial customers throughout Maryland, Pennsylvania, Virginia, Delaware and New Jersey.
“The commercial installation market is large and fragmented and is an important focus of our growth strategy,” IBP Chairman and CEO Jeff Edwards stated.
In addition, the company completed the acquisition of a Chicago-based shower, shelving and mirror installer, SCE Unlimited, with annual revenue of approximately $1.1 million.
“Commercial end markets represented approximately 18 percent of our total revenue in 2019 and we believe we are well positioned to increase our exposure within this compelling market through organic and acquisition growth opportunities,” Edward said, in a statement.
While these were the first transactions IBP has undertaken in 2020, the company acquired six businesses in 2019, 11 in 2018 and 13 in 2017.
IBP, one of the nation’s largest new residential insulation installers, is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental U.S. The company has a national network of over 180 branch locations.