Installed Building Products Announces Acquisitions of Carolina Glass & Mirror and Hamilton Benchmark
10 Dezembro 2018 - 7:05PM
Business Wire
– Two Acquisitions Add Approximately $7.5
Million of Combined Annual Revenue –
Installed Building Products, Inc. (the “Company” or “IBP”)
(NYSE: IBP), an industry-leading installer of insulation and
complementary building products, announced today the acquisitions
of Carolina Glass & Mirror, Inc. (“Carolina Glass”) and
Hamilton Benchmark Inc. (“Hamilton Benchmark”).
Carolina Glass installs commercial and residential glass
applications with one location in Garner, North Carolina, and
serving the greater Raleigh market. Founded in 1993, Carolina Glass
has annual revenue of approximately $6.2 million.
Hamilton Benchmark installs fire-stopping solutions to the large
commercial construction market with one location near Milwaukee,
Wisconsin. Founded in 1999, Hamilton Benchmark has annual revenues
of approximately $1.3 million.
“We are excited to expand our presence in North Carolina, which
represents one of the nation’s strongest real estate markets,”
stated Jeff Edwards, Chairman and Chief Executive Officer. “With
the addition of Carolina Glass, IBP now offers insulation, shower
enclosures and mirrors, garage doors, gutters, blinds, and roofing
installation services to commercial and residential customers
throughout the greater Raleigh market. I am also pleased to
announce the acquisition of Hamilton Benchmark, which represents
the second acquisition in our Alpha commercial installation
platform.”
“So far this year we have closed 12 acquisitions representing
approximately $83 million of acquired revenues. 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,” concluded Mr. Edwards.
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest
insulation installers for the residential new construction market
and is also a diversified installer of complementary building
products, including waterproofing, fire-stopping and fireproofing,
shower doors, closet shelving and mirrors, garage doors, gutters,
blinds, and roofing, throughout the United States. The Company
manages all aspects of the installation process for its customers,
including direct purchases of materials from national
manufacturers, supply of materials to job sites and quality
installation. 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 branch
locations.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including with respect
to our financial and business model, the demand for our services
and product offerings, expansion of our national footprint and end
markets, diversification of our products, expansion of our business
in North Carolina, expansion of our commercial business, our
ability to capitalize on the new home and commercial construction
recovery, our ability to strengthen our market position, our
ability to pursue and integrate value-enhancing acquisitions, our
ability to improve sales and profitability, and expectations for
demand for our services and our earnings in 2018. Forward-looking
statements may generally be identified by the use of words such as
"anticipate," "believe," "expect," "intends," "plan," and "will"
or, in each case, their negative, or other variations or comparable
terminology. These forward-looking statements include all matters
that are not historical facts. By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future. Any forward-looking statements that we make herein and in
any future reports and statements are not guarantees of future
performance, and actual results may differ materially from those
expressed in or suggested by such forward-looking statements as a
result of various factors, including, without limitation, the
factors discussed in the “Risk Factors” section of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2017, as
the same may be updated from time to time in our subsequent filings
with the Securities and Exchange Commission. Any forward-looking
statement made by the Company in this press release speaks only as
of the date hereof. New risks and uncertainties arise from time to
time, and it is impossible for the Company to predict these events
or how they may affect it. The Company has no obligation, and does
not intend, to update any forward-looking statements after the date
hereof, except as required by federal securities laws.
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