Vermont Business Magazine Installed Building Products, Inc(NYSE: IBP), an industry-leading installer of insulation and complementary building products, has announced the acquisition of the Overhead Door Company of Burlington, Incoperating as the Overhead Door Company of Burlington and the Overhead Door Company of Concord.OHD is a well-established 54 year old company with locations in Burlington, VT and Concord, NH. OHD’s focus is installing and servicing garage doors, as well as providing fulfillment services for windows, interior and exterior doors, and molding. The company services commercial and residential customers with approximately 70% of sales from new construction.
“We are pleased to announce our eighth acquisition of the year with trailing twelve month sales of approximately $7.5 million through September 30, 2015,” stated Jeff Edwards, Chairman and Chief Executive Officer. “This acquisition extends our presence in Vermont and New Hampshire, while diversifying our installation services. Garage door installations comprised approximately 7% of our net revenue in 2014, and unlike the other products we install, the garage door business has an ongoing aftermarket service component. This acquisition brings our total acquired revenue in 2015 to over $100 million. We have a solid pipeline of acquisition opportunities and we remain disciplined in our approach to valuations and pricing, while we execute on our growth strategy.”
About Installed Building Products
Installed Building Products, Inc. is the nation's second largest insulation installer for the residential new construction market and is also a diversified installer of complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, 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.
Source:COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc 11.10.2015