We are pleased to announce the sale of our client, Northeast Spray Insulation, to Installed Building Products. The acquisition closed September 23, 2019 and details were not disclosed.
Northeast Spray Insulation, located in Westbrook, Maine, is a specialty contractor focusing on insulation installation. The company has been in continuous operation in Maine since 2001 and provides spray foam, fiberglass, and cellulose insulation installation services, as well as thermal barrier services for residential single- and multi-family customers throughout Maine and New Hampshire.
Located in Columbus, Ohio, Installed Building Products is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products. These include 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.
Installed Building Products 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 175 branch locations.
Generational Equity Executive Managing Director of M&A – Eastern Region, David Fergusson, and his team led by Sr. M&A Advisor, Jeff Carignan, and supported by Vice President Mergers & Acquisitions, Corey Painter, successfully closed the deal. Executive Managing Director Edward Weber established the initial relationship with Northeast Spray Insulation.
According to Carignan, “This deal could not have gone smoother. The combination of a well-organized buyer team and motivated seller accomplished a great deal in quick order. We were able to close one week early from an originally aggressive schedule.”
Discover more about our history of supporting transactions in this industry by visiting our dedicated Construction & Engineering page.
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