Installed Building (IBP) Acquires General Ceiling of Colorado

Installed Building Products, Inc. IBP recently announced the acquisition of General Ceiling & Partitions, Inc. (“GCP”), boosting its insulation installation services business across the Colorado Springs market. However, financial terms of the transaction have been kept under wraps.

Based in Colorado Springs, CO, General Ceiling is a well-established installer business that generated revenues of roughly $11.5 million last year.
GCP — established in 1986 — installs drywall, framing, ceiling tiles, and firestopping/insulation for commercial customers.

With respect to this, Chairman and CEO of Installed Building, Jeff Edwards, stated, “Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I would like to welcome GCP and Reliable Glass & Mirror on to our team.”

Installed Building, a best-in-class installer of insulation and other building products, also recently announced the acquisition of Louisiana-based Reliable Glass & Mirror, LLC. Reliable Glass is a service provider of glass and mirror installation to domestic and trade consumers.

Insulation Business a Major Growth Driver

Installed Building manages every aspect of the installation process for its customers, including direct purchase of material from manufacturers, supply of material to jobsites and timely installation. The company specializes in installing all types of insulation, including fiberglass, spray foam, cellulose and radiant barrier from industry-leading manufacturers.

Installed Building’s insulation partners include Owens Corning, CertainTeed, Greenfiber, BASF, Demilec, Icynene and many more.

The company primarily considers inorganic moves as part of its insulation business growth strategy. So far in 2021, the company has raked in about $79 million of annual revenues. The company has a strong pipeline of acquisition opportunities across multiple geographies, products and end markets.

On Apr 19, 2021, the company announced the takeover of Alpine Construction Services, LLC. With the addition of Alpine, Installed Building boosts its insulation installation services across the Colorado Springs market. On Apr 13, 2021, the company announced the acquisition of California-based Alert Insulation. Alert Insulation is a leading provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers.

Installed Building’s shares have surged 19.2% so far this year compared with the Zacks Building Products – Miscellaneous industry’s 17.8% rally.

Zacks Investment ResearchImage Source: Zacks Investment Research

Zacks Rank & Key Picks

Installed Building carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include TopBuild Corp. BLD, United Rentals, Inc URI and Masco Corporation MAS, each sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

TopBuild, United Rentals and Masco’s 2021 earnings are expected to grow 40.4%, 20.8% and 15.4%, respectively.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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