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Installed Building Products Announces the Acquisition of Thrice Energy Solutions, LLC, Gutter Pro Enterprises, Inc., and a Share Repurchase Update

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Two Acquisitions Add Approximately $14 Million of Annual Revenue

IBP Repurchased $46 million of Common Stock in June Under Its Existing Repurchase Program

Installed Building Products, Inc. (the “Company” or “IBP”), an industry-leading installer of insulation and complementary building products, announced the acquisition of Thrice Energy Solutions, LLC (“Thrice”). Located in Oklahoma City, Oklahoma, Thrice has a new residential and commercial end market presence throughout Oklahoma and Texas primarily installing fiberglass and spray foam insulation.

On June 3, IBP completed the acquisition of Gutter Pro Enterprises, Inc. (“Gutter Pro”), a gutter installer based in Plymouth, Massachusetts. Gutter Pro services both residential and commercial customers throughout Massachusetts and Rhode Island.

“The Thrice and Gutter Pro acquisitions represent combined annual revenue of nearly $14 million and reflect our continued effort to expand into new geographic regions while diversifying our installed product offering. Thrice will be our first branch in Oklahoma City, one of Oklahoma’s largest new construction markets, while Gutter Pro reinforces our presence in the Northeast region,” stated Jeff Edwards, Chairman and Chief Executive Officer. “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 Thrice and Gutter Pro onto our team.”

During the month of June, IBP repurchased approximately 215 thousand shares of its common stock at a total cost of $46 million, including commissions. At June 17, 2024, the Company has over $250 million available under its stock repurchase program.

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 approximately 250 branch locations.

Source: Installed Building Products, Inc.