Installed Building Products Announces Launch of Initial Public Offering of Common Stock

COLUMBUS, Ohio--()--Installed Building Products, Inc. (the “Company” or “IBP”), announced today the launch of its initial public offering of 9,000,000 shares of its common stock, 6,750,000 shares of which will be sold by the Company and 2,250,000 shares of which will be sold by the selling stockholder. The initial public offering price is expected to be between $14.00 and $16.00 per share. The underwriters will have the option to purchase up to an additional 1,350,000 shares of common stock from the Company. The Company has applied to list its common stock on the New York Stock Exchange under the symbol "IBP."`

The Company intends to use its net proceeds from the offering to repurchase all of its outstanding preferred stock and repay certain indebtedness. The Company will not receive any proceeds from the sale of shares by the selling stockholder.

Deutsche Bank Securities and UBS Investment Bank are acting as joint bookrunners of the offering. Zelman Partners LLC is acting as lead manager and BB&T Capital Markets, KeyBanc Capital Markets and SunTrust Robinson Humphrey are acting as co-managers for the offering.

A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from:

 
Deutsche Bank Securities           UBS Investment Bank
Attention: Prospectus Group Attention: Prospectus Department
60 Wall Street 299 Park Avenue
New York, NY 10005-2836 New York, NY 10171

Email: prospectus.cpdg@db.com

Phone: (888) 827-7275
Phone: (800) 503-4611
 

About Installed Building Products

IBP, headquartered in Columbus, Ohio, is the second largest new residential insulation installer in the United States based on its internal estimates and an installer of complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, throughout the United States. The Company manages all aspects of the installation process for its customers, including direct purchases of materials from national manufacturers, supply of materials to job sites and quality installation. The Company serves the new single-family residential, new multi-family, repair and remodel and commercial building end markets.

Forward‐Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to the proposed initial public offering and the Company’s proposed use of proceeds. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” “intends,” “plan,” and “will” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date hereof. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws.

Contacts

For Installed Building Products, Inc.
Investor Relations:
614-221-9944
investorrelations@installed.net
or
Media:
Phil Denning / Jason Chudoba
203-682-8246 / 646-277-1249
Phil.denning@icrinc.com / Jason.chudoba@icrinc.com

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Contacts

For Installed Building Products, Inc.
Investor Relations:
614-221-9944
investorrelations@installed.net
or
Media:
Phil Denning / Jason Chudoba
203-682-8246 / 646-277-1249
Phil.denning@icrinc.com / Jason.chudoba@icrinc.com