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Installed Building (IBP) Closes Custom Glass & Doors Buyout

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Installed Building Products, Inc. (IBP - Free Report) has acquired Custom Glass & Doors, Inc. (CGD). This would expand Installed Building’s complementary installation services in the greater Atlanta market.

Based in Norcross, GA, CGD primarily provides glass, shower, shelving, and mirror installation services to residential as well as multifamily customers. It generates $7.1 million of revenues annually.

Inorganic Strategies Bode Well

Acquisitions remain a key component of Installed Building’s growth strategy. The company has a robust pipeline of acquisition opportunities across multiple geographies, products and end markets.

As part of the ongoing strategy to expand geographically and boost its market share in certain markets, the company completed five business combinations during the first nine months of 2020. The largest of these buyouts is that of Royals Commercial Services, Inc. in February 2020.

In September 2020, it acquired a Cherry Hill, NJ-based gutter installation service provider, Storm Master Gutters. Installed Building — one of the nation's largest new residential insulation installers and a diversified installer of complementary building products — will be able to expand footprint across several compelling markets in the Northeast, Mid-Atlantic and Southeastern United States.

In August 2020, it acquired two branches in North Charleston and Pooler from Energy One America, LLC to expand presence in South Carolina, as well as Georgia. The two branches will operate as Charleston Insulation and Foam, and Savannah Insulation and Foam, respectively. The branches will provide spray foam, fiberglass and air barrier installation services to residential, multi-family, as well as commercial customers. Year to date, the company has generated more than $107 million of annual revenues.

Shares of this Zacks Rank #3 (Hold) company have gained 34.5% year to date compared with the industry’s 23.8% rally. You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Installed Building — which shares space with TopBuild (BLD - Free Report) , Patrick Industries Inc. (PATK - Free Report) and Aegion Corporation (AEGN - Free Report) in the same industry — is currently a great pick in terms of growth investment, supported by a Growth Score of A.

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