National company acquires Pawtucket contractor Anchor Insulation

PROVIDENCE – Anchor Insulation Co., a Pawtucket-based company that primarily installs residential, mechanical and industrial insulation, has been acquired by a national, publicly traded insulation installation company.

Anchor Insulation employs nearly 200 people, according to the company website. Terms of the deal were not disclosed.

Installed Building Products Inc., based in Columbus Ohio, purchased Anchor Insulation on March 13. It has more than 10,000 employees serving more than 230 locations across 43 states. Anchor Insulation, headquartered at 435 Narragansett Drive, Pawtucket, will be its first location in Rhode Island.

Representatives from both Anchor Insulation and Installed Building Products were not immediately available for comment.

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Installed Building manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation, according to the company news release.

“With approximately $39 million of annual revenue, Anchor Insulation expands our presence to residential, commercial and industrial customers across the Northeastern United States,” said Jeff Edwards, CEO and chairman of Installed Building Products. “To date in 2023, we have acquired approximately $43 million of annual revenue. Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I want to welcome Anchor Insulation onto our team.”

Anchor Insulation Co. Inc. was founded by Fred Fiske in 1980 and had remained family-owned. Eric E. Fiske is listed as Anchor Insulation’s president and Jerry T. Fiske is vice president, according to R.I. Secretary of State records. It specializes in the insulation of piping, duct, tanks, and boilers and is one of the largest insulation contractors in New England. Anchor Insulation operates from branches in Rhode Island, Massachusetts and Connecticut.

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