Coatings Industry News

Main News Page


Insulation Company Closes Ninth Deal

Tuesday, December 15, 2015

Comment | More

Installed Building Products Inc., a national insulation and building products installation company, has acquired a North Carolina-based residential spray polyurethane foam insulation installer.

BioFoam of North Carolina LLC, d/b/a Prime Energy Group, will add $8.9 million in annualized revenue to IBP's portfolio.

Additional terms of the deal, announced Dec. 8, were not disclosed.

Business
©iStock.com / shironosov

Installed Building Products hopes to expand its North Carolina footprint with its latest acquistion.

In its announcement regarding the acquisition, IBP chairman and CEO Jeff Edwards said the deal is its ninth of 2015. Recent acquisitions include Sierra Insulation Contractors Inc., of Ontario, CA, and Eco-Tect Insulation Inc., of Apple Valley, CA.

Expanding Footprint

“This [Prime Energy Group] acquisition further expands our presence in the strong North Carolina housing market,” Edwards stated.

Since 2008, Prime Energy Group has been serving the greater North Carolina residential market with branch locations in Raleigh and Charlotte, the company reported.

On a Roll

“Revenues from acquisitions completed in 2015 now represent $109 million of annualized business,” said Edwards.

The company’s robust acquisition activity isn’t expected to slow in the coming year.

“We are ending the year with a solid pipeline of acquisition opportunities for 2016,” he notes.

To date, the company has completed over 100 acquisitions, according to its website.

About Installed Building Products

IBP says it is “the nation’s second largest insulation installer for the residential construction market.”

The company, founded in 1977, manages all aspects of the installation process for its clients, including direct purchases of materials from manufacturers, supply of materials to jobsites and quality installation.

IBP provides services to new and existing residential and commercial building projects.

   

Tagged categories: Acquisitions; Building Envelope; Business management; Business matters; Coatings manufacturers; Insulation; Mergers; North America; Spray foam; Spray polyurethane foam

Comment Join the Conversation:

Sign in to our community to add your comments.


Advertisements
 
SAFE Systems, Inc.

 
Modern Safety Techniques

 
Sauereisen, Inc.

 
RCG America

 
KTA-Tator, Inc. - Corporate Office

 
Fischer Technology Inc.

 
Tarps manufacturing, Inc.

 
WEFTEC Show

 
AWWA (American Water Works Association)

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us