Installed Building Products said on 12 November 2026 that it had completed the acquisition of Old Dominion Group, a mechanical and industrial insulation and firestopping contractor, for an enterprise value of US$698m.
Why Installed Building Products, Inc. is buying Old Dominion Group (1981 Holdco)
IBP says the deal creates a commercial and industrial installation business with about US$420m of last-twelve-month revenue, raises commercial work from about 20% to 28% of group revenue, adds exposure to sectors such as healthcare, education and data centres, and provides a platform for further bolt-on acquisitions. It expects the deal to be immediately accretive to adjusted EPS.
Deal terms and financing
The US$725m aggregate purchase price, less transaction bonuses and management incentive funding, gives an enterprise value of US$698m. About 60% was paid in cash and 40% in IBP shares. Pro forma transaction-adjusted net leverage is 1.9 times. ODG chief executive Jeff Davoud and key managers join IBP to lead the mechanical and industrial business.
Market context
ODG, founded as Old Dominion Insulation by Roddy Davoud in 1981, generated about US$370m of revenue and US$68m of adjusted EBITDA in the twelve months to 30 September 2026.
