Installed Building Products Announces $698 Million Old Dominion Deal
Key Facts
Installed Building Products announced on November 12, 2026, that it had acquired Old Dominion Group, describing the deal as an expansion of its commercial and industrial platform. The announced value was $698 million, according to a company statement published by Business Wire and carried by StreetInsider. The announcement disclosed the acquisition, but the available statement did not confirm its completion. The company said the deal value equates to 9.3 times adjusted earnings before interest, taxes, depreciation and amortization for the last 12 months, including expected operating savings. It also said 60% of the financing would be in cash.
Installed Building Products said the deal would create a critical commercial and industrial installation platform with nearly $420 million in combined revenue for the last 12 months at the time of the announcement. The announcement comes as the company reported record third-quarter 2026 revenue of $808.4 million, up 3.9% year over year. Net income, however, was $59.4 million, compared with $74.4 million in the third quarter of 2025. Adjusted earnings before interest, taxes, depreciation and amortization were $128.3 million, down 8.3% from the year-earlier period. The figures reflect a divergence between revenue growth and weaker profitability measures in the company’s latest results.
Under the announced presentation, the deal would increase commercial and industrial activities’ share of total revenue from about 20% before the deal to about 28% afterward. The move comes amid differing performance across the company’s existing businesses: same-branch residential sales fell 2.6% in the third quarter of 2026, while same-branch commercial sales rose 10.3% compared with the third quarter of the prior year. The company said weak affordability and consumer confidence continue to challenge single-family home construction. It added that it is focused on commercial growth, integrating acquisitions, operating efficiency and disciplined capital allocation. That focus places commercial and industrial expansion at the center of the company’s stated strategy, as the residential market pressures it cited persist.
Installed Building Products provides installation services for building products in new and existing residential and commercial projects across the continental United States through a network of more than 250 branches, according to its third-quarter results statement. Old Dominion Group provides specialized services including commercial and industrial insulation, asbestos abatement, electric heat tracing and fireproofing, according to its company profile. Based on this information, its service range covers work for commercial and industrial facilities alongside the acquirer’s national installation network. The available statement did not specify a timeline for completing the deal. Installed Building Products said it expects the deal to support immediate growth in revenue, adjusted operating margins and adjusted earnings per share.