Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Installed Building Products / Equity Bottom-Up

<ul><li>Installed Building Products is making decisive moves to expand its U.S. footprint despite ongoing macroeconomic uncertainty.</li><li>On February 2, 2026, IBP announced the acquisitions of Thermo-Tech Mechanical Insulation (~$13 million in revenue), Biomax Spray Foam Insulation (~$5 million), and CKV Finished Products (~$4 million), signaling a deliberate push into both new geographies and complementary product categories.</li><li>These transactions follow an active year in which the company added nearly $60 million in annualized revenue via M&A and ended Q3 2025 with a record $778 million in quarterly sales.</li></ul>

Installed Building Products is making decisive moves to expand its U.S. footprint despite ongoing macroeconomic uncertainty.On February 2, 2026, IBP announced the acquisitions of Thermo-Tech Mechanical Insulation (~$13 million in revenue), Biomax Spray Foam Insulation (~$5 million), and CKV Finished Products (~$4 million), signaling a deliberate push into both new geographies and complementary product categories.These transactions follow an active year in which the company added nearly $60 million in annualized revenue via M&A and ended Q3 2025 with a record $778 million in quarterly sales.

Installed Building Products Expands Again—These 3 Acquisitions Might Be a Big Deal!