Atlanta, GA, Sept. 5--The Home Depot today announced that it has entered into an agreement to acquire Tampa based Installed Products USA, LLC ("IPLLC") and Installed Products of California, Inc. (collectively with IPLLC, "IPUSA").
The privately owned IPUSA is one of the largest installers of residential replacement roofing in the U.S. and has been a contractor to Home Depot for roofing installation since 1997.
"Bringing IPUSA under the Home Depot banner will afford us greater consistency of execution in the replacement roofing business," said Frank Blake, executive vice president of Business Development. "This is consistent with our strategy of expanding our service businesses."
Home Depot is currently the world's largest retailer of roofing materials. The acquisition of IPUSA will provide a stronger platform for Home Depot's expansion into roofing installation and other installation services.
Terms of the agreement were not disclosed. The transaction will close upon the satisfaction of certain conditions, which the parties believe will occur within the next 30 days.
