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Installed Building (IBP) Acquires Alpine Construction Services

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·3 min read
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Installed Building Products, Inc. IBP recently acquired Colorado Springs-based fiberglass and spray foam insulation installation service provider Alpine Construction Services, LLC. However, financial terms of the transaction have been kept under wraps.

Alpine is a rapidly growing installer business that generates revenues of $9.4 million annually. With the addition of Alpine, Installed Building will bolster its insulation installation services across the Colorado Springs market.

With respect to this, Chairman and Chief Executive Officer of Installed Building, stated, “Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I would like to welcome Alpine Construction onto our team.”

Inorganic Strategies Driving Performance

Inorganic moves are a very important aspect of Installed Building’s growth strategy. So far in 2021, the company has acquired approximately $65 million in annual revenues. The company has a strong pipeline of acquisition opportunities across multiple geographies, products and end markets.

On Apr 13, 2021, the company announced the acquisition of California-Based Alert Insulation. Alert Insulation is a leading provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers. On Mar 1, 2021, Installed Building announced the buyout of I.W. International Insulation, Inc., thereby boosting the company’s presence across the regions of Washington, Oregon, and Idaho.

Installed Building’s shares have surged 29.6% for far this year compared with the Zacks Building Products – Miscellaneous industry’s 17.2% rally. Also, the company’s earnings estimates for 2021 have moved up 0.4% over the past 30 days, depicting analysts’ optimism regarding the company’s earnings growth potential.

Zacks Rank & Key Picks

Installed Building carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include Owens Corning OC, United Rentals, Inc. URI and TopBuild Corp. BLD, each sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Owens Corning, TopBuild and United Rentals are expected to witness 25.9%, 33.2% and 7.9% earnings growth in 2021, respectively.

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Owens Corning Inc (OC) : Free Stock Analysis Report

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