Jason R. Niswonger, SVP of Finance and Investor Relations for Installed Building Products Inc (IBP), says the insulation company will continue its acquisition strategy to access more U.S. housing permits.
“We are the second-largest installer of insulation in new-build construction projects. Our number-one end market, which makes up approximately 75% of our sales, is to the new single-family construction market,” Niswonger says. “Insulation is our largest product, it is approximately 80% of our sales, but we also install other complementary products: gutters, garage doors, shower, shelving and mirrors. Those are our other key product lines.”
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Niswonger says Jeff Edwards, the company’s CEO, saw an opportunity in the mid-1990s to employ an impactful acquisition strategy. Since then, IBP has done approximately 100 acquisitions have given the company a national footprint.
“We have access today to over 50% of the new housing permits across the country. So as we continue our acquisition strategy, we really have a lot of opportunity to increase our access to housing permits, especially in the South and West regions of the U.S., and that’s certainly what we have been pursuing. Just recently, we completed a fairly sizable acquisition that expanded our presence in California, Washington and Utah, as well as a couple of other locations,” Niswonger says.
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