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Installed Building Products, Inc. reports developments tied to its insulation installation and complementary building-products services for residential and commercial builders in the continental United States. The company installs fiberglass, spray foam and cellulose insulation, and also provides waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving, mirrors and related products.
Recurring IBP news centers on quarterly and annual results, demand conditions in residential and commercial construction, acquisition activity, product-category diversification, cash dividends, share repurchases and capital-structure actions. Updates also cover the company’s manufacturing and distribution operations, its national branch network and financing transactions such as senior notes offerings and asset-based lending facilities.
Installed Building Products, Inc. (NYSE: IBP) will release its third quarter 2020 financial results on November 5, 2020. A conference call is scheduled for 10:00 a.m. Eastern Time on the same day to discuss the results. Investors can access the call via the company’s website. The company is a leading installer of insulation products and operates over 180 branches nationwide, providing a range of services in residential and commercial building projects.
Installed Building Products (IBP) announced the acquisition of Norkote, a leader in specialty coatings for fire protection and insulation, enhancing IBP's services in commercial markets in Washington and Oregon. Norkote generates approximately $10 million in annual revenue, contributing to IBP's total acquired revenue of approximately $94 million in 2020. This acquisition supports IBP's strategic growth through a robust pipeline of future acquisition opportunities across various geographies and products.
Installed Building Products (IBP) has acquired Insulation Contractors/Magellan Insulation (Icon), a Kent, Washington-based firm. This acquisition, valued at approximately $26 million in annual revenue, enhances IBP's presence in commercial and multi-family markets in Washington and Oregon. So far in 2020, IBP has secured around $84 million in annual revenues through acquisitions, which are central to its growth strategy. The company anticipates further expansion opportunities across various geographies and product lines.