Greenwich, CT-based private equity investor Littlejohn & Co has made an investment in Installed Building Products (IBP), an installer of insulation and building products to residential and commercial customers. The investment will enhance the company’s future growth and development.
Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, and Installed Building Products (IBP), a leading installer of insulation and building products to residential and commercial customers, announced today that Littlejohn has made a significant capital investment in IBP in connection with a recapitalization of the company that will enhance the company’s future growth and development.
Headquartered in Columbus, OH, IBP operates nationally installing insulation, gutters, fireplaces, garage doors, and related products.
“We are very pleased with this investment and the additional financial support from Littlejohn who have demonstrated great success in building and supporting companies in many industries,” said IBP Chief Executive Officer Jeff Edwards. “The investment and recapitalization strengthen our company and will accelerate our efforts to grow our business. It is a major step in our long range strategic plan that will support expansion of services and also provide funding for potential acquisitions.”
IBP’s senior executives and the Edwards family will remain as majority shareholders in the ongoing business and will continue to focus on the company’s strategic growth plans.
“IBP is a fundamentally sound company that has outperformed its competitors and successfully navigated the dramatic decline in the housing market over the past five years,” said Steven Raich, Managing Director of Littlejohn. “This is an opportune time to participate in a sector that we believe will stabilize and partner with an industry leader that is led by an excellent management team.”
Rob Davis, a Managing Director of Littlejohn, said, “This capital investment and recapitalization by Littlejohn greatly strengthens IBP’s balance sheet and provides it with the appropriate financial and operational flexibility to capitalize on the significant growth opportunities available to the Company.”
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm focused on investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund IV, L.P., which has over $1.3 billion in capital commitments.