Press Release: Installed Building Products Publishes 2024 Environmental, Social And Governance Report

Installed Building Products, Inc. IBP, a top U.S. installer of insulation and complementary building products, announced its acquisition of Tatum Insulation III, LLC, an installer based outside Wilmington, NC. With Tatum’s strong presence across new residential and commercial markets in the state, IBP gains increased geographic reach and additional revenue streams. Tatum’s offerings span fiberglass insulation, shower doors, shelving, mirrors, and other interior building products, which will strengthen IBP's service portfolio across North Carolina.

Installed Building Products’ Revenue Growth and Market Expansion

The acquisition of Tatum adds more than $17 million in annual revenues for IBP, a significant boost that aligns with its growth-focused acquisition strategy. According to Jeff Edwards, chairman and CEO of IBP, this deal marks a crucial step forward in diversifying the company’s customer base to serve single-family, multi-family, and commercial construction needs more effectively. Edwards emphasized that with more than $90 million in revenues gained from acquisitions so far in 2024, IBP’s approach remains robust, with a healthy pipeline for future deals across various regions and markets.

IBP’s Strategic Focus on Acquisitions

For IBP, acquisitions are a primary driver of growth, allowing the company to expand into new markets and broaden its service offerings. By integrating Tatum’s operations and resources, IBP is set to strengthen its competitive positioning in the Southeastern U.S. market. This acquisition not only boosts its revenues but also enhances its ability to meet rising demand across North Carolina’s residential and commercial construction sectors.

With this strategic addition, IBP continues its momentum, positioning itself as a leader in the building products installation industry while enhancing value for its shareholders.

During the third quarter, IBP completed acquisitions, including an Illinois-based installer and a specialty distributor, with combined annual revenues exceeding $42 million. These acquisitions contributed to IBP's 8% revenue growth, marking a record third-quarter performance.

Acquisitions are core to IBP's capital allocation strategy, enabling geographic expansion and product diversification across its national network. IBP anticipates further deals before year-end and has a strong acquisition pipeline for 2025. Management remains optimistic about demand driven by residential construction, further supported by U.S. government incentives for energy-efficient building standards.

Share Price Performance of IBP Stock