COLUMBUS, OH -- Installed Building Products, Inc., an industry-leading installer of insulation and complementary building products, announced the acquisition of BioFoam of North Carolina, LLC, d/b/a Prime Energy Group. Since 2008, Prime Energy Group has been serving the greater North Carolina market from branch locations in Raleigh and Charlotte. The company is primarily an installer of spray foam insulation to residential customers.
"We are pleased to announce our ninth acquisition of the year with trailing twelve month sales of approximately $8.9 million through October 30, 2015," stated Jeff Edwards, Chairman and Chief Executive Officer. "This acquisition further expands our presence in the strong North Carolina housing market. Revenues from acquisitions completed in 2015 now represent $109 million of annualized business. We are ending the year with a solid pipeline of acquisition opportunities for 2016."
About Installed Building Products
Installed Building Products, Inc. is the nation's second largest insulation installer for the residential new construction market and is 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 portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of branch locations.