Installed Building Products Acquires Trademark Roofing and Gutters
COLUMBUS, Ohio — Installed Building Products Inc. has acquired Trademark Roofing and Gutters, the companies announced Monday.
Founded in 1996, Trademark has two locations in the Raleigh, N.C. market. The company provides roofing and gutter installation services primarily to the new residential construction market. Trademark has annual revenue of about $9 million.
Based in Columbus, Installed Building Products is one of the nation's largest insulation installers for the residential new construction market and is also a diversified installer of building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, throughout the U.S.
The company is publicly owned and trades on the NYSE under the “IBP” symbol. For the second quarter ending June 30, the company reported net income of $16.3 million on revenue of $332.6 million. Net revenue was up 17.9 percent compared with the same year-ago period, and net income was up 36.3 percent.
IBP released a statement about the acquisition of Trademark Roofing and Gutters:
“We are extremely excited to announce our first acquisition in the roofing installation end market. This is part of our longstanding strategy to add complementary installation services that expands our end markets and deepens our relationship with builders. Raleigh is a great market for IBP to expand into roofing, as we now offer local builders installation services including insulation, blinds, garage doors, gutters and roofing. So far this year we have closed eight acquisitions representing approximately $52 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.”
Terms of the deal were not released.