Benzinga | Nov 2, 2021 10:25AM EDT

Installed Building Products Announces The Acquisition of Denison Glass & Mirror, Inc.; No Terms Disclosed

Installed Building Products, Inc. (the "Company" or "IBP") (NYSE:IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisition of Denison Glass and Mirror, Inc. ("Denison") and an affiliated entity, DGM Glass, LLC ("DG" and collectively with Denison, "DGM"). Established in 1947, Denison is located in Denison, Texas and primarily serves the Dallas/Fort Worth area. Denison primarily installs glass, frames, curtainwall, and related products into new commercial construction projects. DG primarily installs shower doors and windows in new and existing residential projects.

IBP also announced today the acquisition of Mr. Insulation Co., Inc. ("Mr. Insulation"), a Hermiston, Oregon based installer of insulation, gutters, windows, and siding to single family, multifamily, and commercial customers primarily in the state of Oregon but also in Washington state.

"With approximately $20 million of annual revenue, DGM expands our presence to commercial builders within the strong construction markets of Dallas and Fort Worth," stated Jeff Edwards, Chairman and Chief Executive Officer. "In addition, our recent acquisition of Mr. Insulation increases our presence within Oregon and Washington state. To date in 2021, we have acquired approximately $130 million of annual revenues, further surpassing our $100 million acquired revenue target for this year. 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 would like to welcome DGM and Mr. Insulation onto our team."