Installed Building Products, a major insulation installer based in Columbus, Ohio, is expanding its Midwestern presence through the acquisition of Installed Building Solutions, LLC ("IBS").
Farmington, Minnesota-based IBS is an installer of fiberglass insulation, spray foam insulation and waterproofing products that serves burgeoning markets throughout Minnesota, Wisconsin and North Dakota.
“We are thrilled to welcome IBS employees to our team and excited to serve our new customers in these attractive markets,” said Jeff Edwards, chairman and CEO of Installed Building Products. “IBS meets our strategic growth objectives with its strong market share, experienced management team and extensive customer relationships. We look forward to building on the IBS team’s successful platform and remain focused on further strengthening our market presence as we pursue attractive acquisitions in select markets.”
IBS reported sales for the trailing 12 months ending September 30, 2014 of approximately $17.4 million.