Installed Building Products acquires Old Dominion Group in $698 million deal

Installed Building Products (NYSE: IBP) said it has completed its acquisition of Old Dominion Group (ODG), a mechanical and industrial installer of insulation, firestopping and other complementary products. The enterprise value is $698 million, net of $27 million in transaction bonuses, and consideration was about 60% cash and 40% IBP common stock issued to ODG shareholders.

For the twelve months ended September 30, 2026, ODG generated revenue of about $370 million and Adjusted EBITDA of about $68 million. ODG will keep operating under its regional brands, led by CEO Jeff Davoud and its existing management. IBP expects $6 million to $8 million of annualized run-rate cost synergies within 24 months, mainly from direct materials procurement scale and shared administrative efficiencies.

IBP said the deal lifts its commercial revenue share from about 20% to 28% and expands its exposure to healthcare, education, manufacturing, industrial facilities and data centers. The company also cited the platform as a base for further bolt-on acquisitions in the fragmented mechanical and industrial insulation installation market. No advisers were named in the release.