Installed Building Products Announces the Acquisition of Combee Insulation of Florida, LLC

Acquisition Adds Approximately $16.5 Million of Annual Revenue

Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Combee Insulation Company, Inc., Combee Foam Products, Inc. and Air Tight Diagnostics, LLC (collectively “Combee”). Established in 1970, Combee is headquartered in Lakeland, Florida and installs a diverse mix of building products including, fiberglass insulation, spray foam insulation, and garage doors, primarily into new residential construction projects throughout the greater Central Florida area.

“With approximately $16.5 million of annual revenue, Combee expands our presence to serve single-family, multifamily, and commercial customers throughout Central Florida,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date in 2023, we have acquired approximately $75 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 want to welcome Combee onto our team.”

About Installed Building Products

Installed Building Products, Inc. is one of the nation’s largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects in all 48 continental states and the District of Columbia from its national network of over 240 branch locations.

Source: Installed Building Products, Inc.