Installed Building Products Announces the Acquisition of Prime Energy Group with Locations in Raleigh and Charlotte North Carolina

Installed Building Products, Inc. (the "Company" or "IBP") IBP, an industry-leading installer of insulation and complementary building products, announced today the acquisition of BioFoam of North Carolina, LLC, d/b/a Prime Energy Group. Since 2008, Prime Energy Group has been serving the greater North Carolina market from branch locations in Raleigh and Charlotte. The company is primarily an installer of spray foam insulation to residential customers. "We are pleased to announce our ninth acquisition of the year with trailing twelve month sales of approximately $8.9 million through October 30, 2015," stated Jeff Edwards, Chairman and Chief Executive Officer. "This acquisition further expands our presence in the strong North Carolina housing market. Revenues from acquisitions completed in 2015 now represent $109 million of annualized business. We are ending the year with a solid pipeline of acquisition opportunities for 2016."