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Installed Building (IBP) Buys California-Based Alert Insulation
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Installed Building Products, Inc. (IBP - Free Report) has acquired Alert Insulation, a La Puente, CA-based provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers. However, the terms of the transaction have been kept under wraps.
Installed Building is one of the country’s largest new residential insulation installers and a diversified installer of complementary building products. This buyout will considerably expand the company’s commercial insulation installation services throughout California. Notably, Alert Insulation generates $21 million of revenues annually.
Acquisitions to Expand Presence
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 share in certain markets, the company completed nine business combinations during 2020, which represented more than $107 million of annual revenues. These buyouts, which included acquisitions in the large commercial construction end market, reflect persistent expansion in primary residential end markets. It witnessed same branch sales improvement across all end markets in 2020, led by multifamily same branch sales growth of 22%.
The largest of 2020 buyouts is that of Royals Commercial Services, Inc. in February. Year to date, the company has acquired more than $55 million of annual revenues.
Installed Building — which shares space with TopBuild (BLD - Free Report) , Patrick Industries Inc. (PATK - Free Report) and Aegion Corporation in the same industry — is currently a great pick in terms of growth investment, supported by a Growth Score of B.
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Installed Building (IBP) Buys California-Based Alert Insulation
Installed Building Products, Inc. (IBP - Free Report) has acquired Alert Insulation, a La Puente, CA-based provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers. However, the terms of the transaction have been kept under wraps.
Installed Building is one of the country’s largest new residential insulation installers and a diversified installer of complementary building products. This buyout will considerably expand the company’s commercial insulation installation services throughout California. Notably, Alert Insulation generates $21 million of revenues annually.
Acquisitions to Expand Presence
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 share in certain markets, the company completed nine business combinations during 2020, which represented more than $107 million of annual revenues. These buyouts, which included acquisitions in the large commercial construction end market, reflect persistent expansion in primary residential end markets. It witnessed same branch sales improvement across all end markets in 2020, led by multifamily same branch sales growth of 22%.
The largest of 2020 buyouts is that of Royals Commercial Services, Inc. in February. Year to date, the company has acquired more than $55 million of annual revenues.
Shares of this Zacks Rank #1 (Strong Buy) company have gained 20.9% year to date compared with the industry’s 15.7% rally. You can the complete list of today’s Zacks #1 Rank stocks here.
Installed Building — which shares space with TopBuild (BLD - Free Report) , Patrick Industries Inc. (PATK - Free Report) and Aegion Corporation in the same industry — is currently a great pick in terms of growth investment, supported by a Growth Score of B.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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