SPI Acquires All Therm Services, Inc.

CHARLOTTE, N.C. – Specialty Products and Insulation (“SPI”) is pleased to
announce it has acquired All Therm Services, Inc in Canada. All Therm is a leading
distributor and fabricator of mechanical insulation products with five branches
across Canada. This is SPI’s second acquisition in 2022 and its first large-scale
Canadian acquisition since SPI’s purchase of Burnaby Insulation in June 2010.

Chris Ishkanian, All Therm’s President, has joined SPI as District Manager to lead
Canadian operations. SPI also welcomes nearly 40 former All Therm employees who
have joined the company.


About SPI: Headquartered in Charlotte, North Carolina, SPI is a value-added
distributor and fabricator of mechanical insulation and related products for
commercial and industrial applications. SPI’s products help conserve energy,
preserve worker safety, and provide noise abatement. The company currently
operates more than 70 branches and sells to over 3,500 contractors in the U.S. and
Canada. For more information, please visit www.spi-co.com.

About All Therm: All Therm, a leader in Canada’s Mechanical Insulation market,
was founded in 2013 and is based in Burnaby. SPI acquired their distribution and
fabrication facilities in Edmonton, along with distribution locations in Burnaby,
Calgary, Mississauga (Toronto), and Dartmouth (Halifax).