Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that it has completed the acquisition of Old Dominion Group, a leading mechanical and industrial installer of insulation, firestopping, and other complementary products. Under the terms of the Agreement and Plan of Merger governing the transaction, the acquisition is valued at an enterprise value of $698 million, net of $27 million in transaction bonuses.
Total consideration was funded through approximately 60% cash consideration and approximately 40% in shares of IBP common stock issued to ODG shareholders.
The acquisition establishes an immediate platform of scale for IBP within the large, high-growth commercial mechanical and industrial installation market.
For the last 12 months ended September 30, 2026, ODG generated revenue of approximately $370 million and Adjusted EBITDA of approximately $68 million. IBP expects to achieve $6 million to $8 million in annualized run-rate cost synergies within 24 months, driven primarily by direct materials procurement scale and shared administrative efficiencies.
The transaction represents an effective multiple of 9.3x LTM Adjusted EBITDA, including run-rate synergies, and is expected to be immediately accretive to IBP's revenue growth, adjusted operating margins, and adjusted EPS.
IBP shares let go of four cents to $209.54
Related Stories
