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Tag: acquires

Installed Building Products Acquires Insulation Contractors/Magellan Insulation

Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced it has acquired Insulation Contractors/Magellan Insulation, known within its local markets as Icon. Founded in 1989, Icon is headquartered in Kent, Washington, and provides insulation, waterproofing, and firestopping installation services to commercial and multi-family customers throughout Washington and Oregon.

“With total annual revenue of approximately $26 million, Icon expands our presence with commercial and multi-family customers in Washington and Oregon. In addition, the mix of both commercial and multi-family customers aligns well with the current growth we are experiencing across our nationwide footprint,” stated Jeff Edwards, Chairman and Chief Executive Officer. “To date in 2020, we have acquired approximately $84 million of annual revenues. Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies,

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Preservation group acquires 6 historic homes in Indiana city

WABASH, Ind. (AP) — A preservation group plans to renovate the exteriors of six run-down homes in a northern Indiana city and put them on the market next year in hopes of spurring a historic neighborhood’s rebirth.

Indiana Landmarks said it acquired the historic homes, built in Wabash between the 1870s and the early 1900s, during an auction. The Indianapolis-based nonprofit said the homes illustrate a range of architectural styles in the city’s East Wabash Historic District.

“There truly is something for everybody, from a modest, wood-frame house to larger Victorians. It’s a mad mix of styles and sizes,” said Paul Hayden, director of Indiana Landmarks’ northwest office in Wabash.

Hayden will lead the renovation of the homes’ exteriors and the effort to put them back on the market in early 2021. The properties recently served as rental housing, and most were divided into apartments.

Wabash has a vibrant downtown,

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