Industry Updates “It’s an honor to join the leadership team at ICP,” Ferguson said. “I am incredibly excited to be a conFi-Foil Company, a portfolio company of Validor Capital tributing player to our strategic goals, both financially and as we work to become the preferred provider of and a highly specialized manufacturer of reflective industry-leading solutions for the roofing, insulation, insulation and radiant barriers, has acquired Kennedy Insulation Group, significantly expanding its reflective waterproofing and specialty coatings markets. By selectively driving business improvement initiatives, insulation product line. we’re not only innovating to add value to the company Kennedy Insulation Group, based in Carthage, Mo., but also to improve the customer experience from was established in 2008 by Rick and Chris Kennedy. start to finish. This is an exciting time for the entire ICP The company’s exclusive VerSola brand is a multi-layteam and I’m proud to be a part of it.” er reflective bubble insulation product that Kennedy manufactures and distributes throughout the southwestern and southeastern United States. The VerSola Beacon Expands in Southeast Florida According to the Herndon, Va.-based roofing and product is especially noted for its use and perforbuilding products distributor, the latest branch mance in metal and post frame building applications. strengthens the company’s presence in southeast Bill Lippy, CEO at Fi-Foil stated, “We couldn’t have Florida, particularly with service to the Miami-Dade found a better fit for Fi-Foil than Kennedy. Rick has built a great business that is highly complementary to market and the Keys. The new Homestead branch is stocked with leading the existing Fi-Foil product line. We feel the combined brands of residential roofing, commercial roofing and capabilities of the two companies and their respective complementary products, including waterproofing and teams will enable us to serve our customers more efBeacon’s own TRI-BUILT brand. fectively with an expanded U.S. manufactured product “I am proud to announce the opening of our tenth line and geographic sales coverage.” greenfield this year, in the vibrant Homestead market,” said Jack Gill, Beacon’s Regional Vice President, ICP Group Appoints New Florida. “The beautiful coastal nature of this area Chief Financial Officer draws new construction and also requires extra roof ICP Group has named Glen Ferguson as its new Chief maintenance and repair for existing homes, so we are Financial Officer (CFO). Ferguson will manage setting pleased to have another location that supports our and executing the overall financial strategy for ICP, busy customers.” ensuring alignment between business and financial Gill also noted that Beacon plans to give back to strategy to position the company for growth. Going the community through the distributor’s partnership forward, all ICP finance and accounting teams will with Rebuilding Together. “As Beacon expands in our report to Ferguson. community, I look forward to working with them to “With Glen’s years of industry experience in finance, increase our impact,” said Martina Spolini, Executive he is a well-rounded and proven leader who we believe Director of Rebuilding Together Miami-Dade. “Having is ideal for this position,” said Doug Mattscheck, Chief a partner like Beacon who supports our work is esExecutive Officer and President, ICP Group. “His high sential to making critical home repairs that allow our level of financial expertise is elevated by his demonlong-term community residents to remain in place.” strated ability to serve as a strategic partner, forge quality relationships with his teams and peers and actively and strategically propel companies toward their IKO Pursuing 700,000-Square-Foot Manufacturing Facility in Clay County goals. We’re grateful to have him and look forward to IKO Industries, a 71-year-old Toronto-based manufacthe contributions he’ll make at ICP.” Ferguson’s background includes business planning, turer of roofing, waterproofing and insulation products for the residential and commercial markets, is working operations, financial management, dealer operations, toward construction of an almost 700,000-squareinternational business and mergers and acquisitions. Most recently, he served as CFO of GE’s Onshore Wind foot manufacturing complex in Clay County. A conceptual site plan for IKO South shows a and Power portfolio units. Prior to that, he oversaw 306,476-square-foot ISO (insulation) board manufinancial operations for Culligan International, ADA facturing facility and office, a 265,381-square-foot Carbon Solutions, Sequa Automotive Corporation and shingles manufacturing facility, a 102,805-squareJacuzzi brands and held senior finance positions at foot ice and water manufacturing facility and a Danaher Corporation. He holds a bachelor’s degree in 21,184-square-foot processing building next to a accounting from the University of New Haven and is a granule unloading area. The St. Johns River Water Certified Public Accountant.
Fi-Foil Company Acquires Kennedy Insulation Group
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FLORIDA ROOFING | January 2023