Installed Building Products expands in Utah
Installed Building Products (IBP), the provider of residential and commercial building product installation services, has acquired Premier Building Services.
Founded in 2009, Premier is headquartered outside Provo, Utah and operates locations in Lindon and Salt Lake City. The company installs insulation and garage doors primarily for residential customers. Terms of the deal were not disclosed.
“With three locations and approximately $23 million of annual revenue, Premier significantly expands our presence in Utah,” said Jeff Edwards, chairman and CEO of Installed Building Products. “Utah is an attractive housing market and I am excited to grow IBP’s presence within the state.”
Edwards said that, following this latest acquisition, IBP has acquired companies with more than $59 million in annual 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,” Edwards said.
Earlier this month, the Columbus, Ohio-based company reported that its third quarter 2019 net revenue increased 13.6% to a company record $396.4 million while earnings rose 36% to $21.2 million.
Founded in 2009, Premier is headquartered outside Provo, Utah and operates locations in Lindon and Salt Lake City. The company installs insulation and garage doors primarily for residential customers. Terms of the deal were not disclosed.
“With three locations and approximately $23 million of annual revenue, Premier significantly expands our presence in Utah,” said Jeff Edwards, chairman and CEO of Installed Building Products. “Utah is an attractive housing market and I am excited to grow IBP’s presence within the state.”
Edwards said that, following this latest acquisition, IBP has acquired companies with more than $59 million in annual 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,” Edwards said.
Earlier this month, the Columbus, Ohio-based company reported that its third quarter 2019 net revenue increased 13.6% to a company record $396.4 million while earnings rose 36% to $21.2 million.