COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the acquisition of Royals Commercial Services, Inc. Founded in 1990, Royals Commercial is headquartered in Millersville, Maryland and provides spray foam insulation and thermal barrier installation services primarily for commercial customers throughout Maryland, Pennsylvania, Virginia, Delaware, and New Jersey.
“With approximately $10 million of annual revenue, Royals Commercial expands our presence in the greater Baltimore and mid-Atlantic markets,” stated Jeff Edwards, Chairman and Chief Executive Officer. “The commercial installation market is large and fragmented and is an important focus of our growth strategy. In addition to Royals Commercial, we also completed the acquisition of a Chicago based shower, shelving and mirror installer, with annual revenue of approximately $1.1 million. Commercial end markets represented approximately 18% of our total revenue in 2019 and we believe we are well positioned to increase our exposure within this compelling market through organic and acquisition growth opportunities.”
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 from its national network of over 180 branch locations.
