COLUMBUS, OH -- Installed Building Products, Inc., an industry-leading installer of insulation and other complementary building products, announced today the acquisition of EcoLogic Energy Solutions ("EcoLogic") based in Stamford, Connecticut. EcoLogic is primarily an installer of spray foam and fiberglass insulation serving the Connecticut, New York and Northern New Jersey markets. Approximately half of EcoLogic's sales are in the new residential end market with the remainder split largely between commercial and repair and remodel activity. EcoLogic's sales for the trailing twelve month period ending April 30, 2015 were approximately $6.0 million.
"We are pleased to announce the addition of the EcoLogic team as we continue to strengthen our position in the New York Metropolitan area," stated Jeff Edwards, Chairman and Chief Executive Officer of IBP. "Ecologic complements our strategic growth objectives and further diversifies our product and end market exposure. We expect this transaction to be immediately accretive as we integrate these assets onto our platform. Building on our robust acquisition activity to date, we remain committed to further capitalizing on the significant expansion opportunities in our strong deal pipeline to continue improving our business."
About Installed Building Products
Installed Building Products, Inc. is the nation's second largest insulation installer for the residential new construction market and also a diversified installer of complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, throughout the United States. The Company manages all aspects of the installation process for its customers, including direct purchases of materials from national manufacturers, supply of materials to job sites and quality installation. The Company offers its diverse portfolio of services for new and existing single-family and multifamily residential, and commercial building projects from its national network of branch locations.