Installed Building Products Announces the Acquisition of Diamond Energy Systems, Inc. and a Share Repurchase Update
COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Diamond Energy Systems, Inc. (“DESI”). With headquarters in St. Joseph, MN, DESI specializes in mechanical insulation with the majority of its sales derived from retrofit work between industrial and commercial applications. “DESI adds approximately $12 million of annual revenue.