USI Aquires Georgia-based Southern Foam & Coating Insulation
September 1, 2016
United Subcontractors (USI), a national construction services provider of installed insulation and related services to builders, contractors and homeowners, announced the acquisition of Southern Foam and Coating, Inc. and Southern Foam & Coating of North Georgia, Inc. (collectively, "Southern Foam"), a Georgia-based full line insulation contractor with five operating locations throughout Georgia, North Carolina and South Carolina. For the 12 months ended July 31, 2016, Southern Foam's net revenue exceeded $9 million.
"The strength of the Southern Foam teams led by Rusty Collins and Carmen Torrey, coupled with the opportunity to solidify our new position in the Southeast, makes this an exciting acquisition for USI," said Bill Varner, president and CEO of USI. "USI's recent expansion in the Southeast shows its commitment to this vibrant market and we expect the addition of Southern Foam's highly-complimentary business model and customer base to be a meaningful addition as they are on-boarded to our industry-leading operating platform."