Installed Building Products Announces the Acquisition of Water-Tite Solution, Inc.
COLUMBUS, Ohio–September 17, 2018– 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 Water-Tite Solution, Inc. (“Water-Tite”). Founded in 2001, Water-Tite provides commercial waterproofing installation services in the Tampa, Florida market and has annual revenue of over $6.0 million.
“We are very excited to announce the first bolt-on acquisition within our large commercial platform. During 2018, Alpha opened a branch in Tampa to capitalize on favorable trends within this market and Water-Tite will immediately expand Alpha’s presence in the Tampa market. So far this year we have closed nine acquisitions representing nearly $60.0 million of acquired revenues. Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets,” stated Jeff Edwards, Chairman and Chief Executive Officer.