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 Statewide Insulation, Inc. doing business as Tri-County Insulation and Acoustical Contractors (“Tri-County”). Established in 1974, Tri-County is headquartered in Santa Clara, California, with two additional California locations in Santa Cruz and Santa Maria. Tri-County primarily 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 Jeff Edwards, Chairman and Chief Executive Officer. “To date in 2022, we have acquired approximately $68 million of annual revenue. Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I would like to welcome Tri-County onto our team.”
