Installed Building Products Inc (IBP) said on Monday that it had agreed to acquire AMD Distribution Inc, based in Spring Valley, Minnesota.
Financial details of the agreement were not disclosed.
“AMD’s scale and experience serving our core insulation markets provides IBP with a distribution platform, which further diversifies our revenue mix, end-markets, and geographic footprint. Over the long-term, we expect AMD will improve the flexibility of both our supply chain and cost structure for insulation accessories,” Jeff Edwards, Chairman and Chief Executive Officer of Installed Building Products, said in a statement.
“This has been an historic year of acquisition growth for IBP. To date, we have acquired approximately $211 million of annual revenues, more than doubling our $100 million acquired annual revenue target for 2021. The reputation and relationships our senior managers have built throughout the industry enhances our ability to source strategic and accretive acquisitions,” the CEO added.
“We believe our distribution capabilities complement IBP’s existing business, opening a new opportunity for expansion as well as operational and cost efficiencies,” Aaron Kolling, President and Co-Founder of AMD Distribution, said.
Established in 2001, AMD focuses on residential, commercial and agricultural end-markets and distributes products and materials that are used mostly in the installation of spray foam insulation, metal building insulation, residential insulation, as well as mechanical and fabricated Styrofoam insulation in new construction projects.
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