Ohio-based Installed Building Products, Inc., an installer of insulation and complementary building products, announced the acquisition of Eastern Contractor Services based in New Jersey and operating as Parker Insulation and Building Products in Nederland, Texas.
Eastern is a well-established 41 year old company with locations in Flanders and Tuckerton, with a primary focus on fiberglass and spray foam insulation installations. Parker’s product offerings include fiberglass and spray foam insulation as well as garage doors and other complementary products, in the Southeastern Texas market. Both Eastern and Parker focus on new single-family and multi-family residential construction end markets.
“We are pleased to announce our sixth acquisition of the year with trailing twelve month sales of approximately $23 million,” stated Jeff Edwards, Chairman and Chief Executive Officer. “We have created a compelling acquisition platform, and these established branch locations will deepen our presence in New Jersey, the New York metropolitan area, and Texas. This acquisition brings our total acquired revenue in 2015 to approximately $85 million as we continue to pursue excellent acquisition opportunities in our target markets. We remain confident in our ability to execute on our growth strategy of utilizing a disciplined approach to valuations and pricing.”Related Articles: