New Orleans, LA – May 10, 2021 – Legacy Capital (www.legacycapital.com) announced today the acquisition of its clients, Reliable Glass & Mirror, LLC (“Reliable Glass”) and Glass & Mirror Depot, LLC (“Glass & Mirror Depot”) in Elmwood, LA by Installed Building Products, Inc. (“IBP”), headquartered in Columbus, OH.
Reliable Glass is a commercial and residential glass company operating in the New Orleans metro area. With over 30 years of experience, Pete Rizzo, owner and CEO, has installed custom glass including shower doors, mirrors, and windows to a variety of homes and businesses. Glass & Mirror Depot serves as a wholesale glass provider both internally to Reliable and externally to local contractors and vendors.
IBP is one of the nation’s largest insulation installers for the residential new construction market and is also a diversified installer of complementary building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, throughout the United States. IBP 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 offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of branch locations.
Jeff Edwards, Chairman and CEO of IBP stated, “We are excited to welcome Pete and his team to the IBP family of companies, and to expand our presence in the New Orleans metro market. We look forward to working with Pete for further growth opportunities in the area.”
Pete Rizzo, who will continue in his role with the companies, added, “IBP is the perfect partner for us. Its business model of sales and installation of key building products fits us like a glove. We are also excited to partner with a company which places an emphasis on taking care if its employees and providing them with additional opportunities.” Pete added, “Chip Porter and the team at Legacy Capital led us through the transaction and their deep technical and execution experience resulted in a very smooth process.”
Chip Porter, Managing Partner at Legacy Capital, said, “It was a pleasure working with the Pete and his team in this transaction. Pete placed an emphasis on partnering with a company that would continue and improve the operations for the benefit of its employees and customers, and with the sale to IBP, we were able to help him accomplish his goals. It was also a pleasure working with IBP and its advisors. The building products industry is an area of particular focus for Legacy Capital, and we look forward to working with others in the industry.”
Legacy Capital helps create value for owners of private companies with its depth of knowledge and technical execution expertise in mergers and acquisitions, recapitalizations and general financial advisory. Legacy Capital also provides valuation opinions and complex litigation support services.
Legacy Capital was founded in 1994 and is based in New Orleans, Louisiana. Legacy Capital is a registered member of FINRA (www.finra.org), SIPC (www.sipc.org), and the Louisiana Office of Financial Institutions, Securities Division.
Contact:
Chip Porter
Managing Partner
Legacy Capital LLC