By Connor Hart
Installed Building Products has acquired Wholesale Insulation Supply.
Doing business as Insulation Supplies, the newly-acquired company adds an insulation installer and complementary-building products provider to Installed Building Products' portfolio, the company said on Monday. The acquisition is expected to add more than $22 million of annual revenue.
Terms of the deal weren't disclosed.
Chief Executive Jeff Edwards said the purchase expands the company's geographic presence, giving it the ability to meet the needs of insulation customers in the upper Midwest.
"To date in 2024, we have acquired over $73 million of annual revenue," he said. "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."
Founded in 1986, New Hope, Minn.-based Insulation Supplies is a specialty distributor focused on residential and commercial end-markets, selling fiberglass, spray foam and cellulose insulations, as well as related accessories and machinery.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 07, 2024 16:43 ET (20:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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