Exhibit 99.1
INSTALLED BUILDING PRODUCTS ANNOUNCES THE ACQUISITION
OF NATIONWIDE GUTTER, LLC
– Acquisition Adds Approximately $5.2 Million of Annual Revenue –
Columbus, Ohio, June 22, 2020.Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisition of Nationwide Gutter, LLC. (“Nationwide Gutter”). Founded in 1998, Nationwide Gutter is headquartered outside of Dallas, Texas and provides gutter installation and repair services primarily to multifamily and commercial customers.
“I am excited that IBP is now in a position to restart closing transactions from our strong pipeline as economies and our markets rebound across the country,” stated Jeff Edwards, Chairman and Chief Executive Officer. “With approximately $5.2 million of annual revenue, Nationwide Gutter expands our presence to multifamily and commercial customers throughout Texas and in surrounding states. On behalf of everyone at IBP, I’d like to welcome the Nationwide Gutter team to our company.”
About Installed Building Products
Installed Building Products, Inc. is one of the nation’s largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of over 180 branch locations.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to the housing market, our financial and business model, the demand for our services and product offerings, the impact of the COVID-19 crisis on our business and end markets, expansion of our national footprint and end markets, diversification of our products, our ability to capitalize on the new home and commercial construction recovery, our ability to grow and strengthen our market position, our ability to pursue and integrate value-enhancing acquisitions, our ability to improve sales and profitability, the impact of the COVID-19 crisis on our financial results and acquisition closings, and expectations for demand for our services and our earnings in 2020. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” “intends,” “plan,” and “will” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those expressed in or suggested by such
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