Installed Building (IBP) Expands Presence With Two Acquisitions

Acquisitions and Revenue Growth - Installed Building Products, Inc. (IBP) acquired Thrice Energy Solutions, LLC and Gutter Pro Enterprises, Inc, which are expected to add approximately $14 million in annual revenues [1] - In the first quarter of 2024, IBP completed the acquisition of a Delaware-based installer specializing in fireplaces, generating approximately $5 million in annual revenues, and a North Carolina-based residential installer of insulation with annual revenues exceeding $6 million [3] - The acquisition of Gutter Pro, completed on June 3, strengthens IBP's position in the Northeast region, serving residential and commercial customers in Massachusetts and Rhode Island [5] Strategic Focus - The company emphasizes acquisitions as a primary priority for capital allocation, aiming to expand its geographic footprint and diversify its product offerings across its national branch network [16] - IBP maintains a robust pipeline and actively pursues opportunities across various regions, products, and markets, indicating a strong growth strategy [15] Market Performance - Shares of IBP have surged 69% in the past year, outperforming the Zacks Building Products – Miscellaneous industry's 35.7% rise, benefiting from enhancements in the single-family end market and sustained robust sales growth in the multi-family end market [11]