IBP - Installed Building Products acquires Tri-County boosting annual revenue by $14M
Installed Building Products (NYSE:IBP) on Monday has bought Santa Clara, California-based Tri-County Insulation and Acoustical Contractors in a move that adds ~$14M to its annual revenue. Tri-County mainly installs fiberglass insulation, spray foam insulation, and acoustical ceiling insulation into new residential, multifamily, and commercial projects in California. “With approximately $14 million of annual revenue, Tri-County expands our presence in California,” stated CEO and Chairman Jeff Edwards. “To date in 2022, we have acquired approximately $68 million of annual revenue," he added. In April, Installed Building Products invested in an artificial intelligence-powered platform focused on climate change.
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Installed Building Products acquires Tri-County, boosting annual revenue by $14M