IBP - Installed Building Products' new acquisition takes additional annual revenue to $84M

Installed Building Products (IBP) acquires Insulation Contractors/Magellan Insulation ((Icon)) headquartered in Kent, Washington. Icon provides insulation, waterproofing, and firestopping installation services to commercial and multi-family customers throughout Washington and Oregon. Its has total annual revenue of approximately $26M."To date in 2020, we have acquired approximately $84 million of annual revenues. 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," says chairman and CEO Jeff Edwards.Stock +1.21% in post market action.

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Installed Building Products' new acquisition takes additional annual revenue to $84M