Installed Building Products acquires Diamond Energy Systems, issues buyback update

Installed Building Products (NYSE:IBP) announced the acquisition of Diamond Energy Systems (DESI), a move that expands the company's footprint and deepens its commercial product offerings in the Upper Midwest region.

St. Joseph, Minnesota-based DESI specializes in mechanical insulation, generating the majority of its sales from retrofit projects across industrial and commercial applications.

The transaction is expected to add approximately $12 million in annual revenue to IBP's operations.

The acquisition brings IBP's total acquired annualized revenue to approximately $40 million for 2026 to date.

Management emphasized that systematic geographic and product line expansion remains a fundamental pillar of the company's long-term corporate growth blueprint.

Alongside the acquisition, the Columbus, Ohio-based insulation installer provided an update on its active capital allocation program.

During the month of May, through May 18, 2026, IBP repurchased approximately 240,000 shares of its common stock under its authorized share repurchase initiative.

The open-market buybacks were executed at a total cost of $51.2 million, an aggregate figure that includes all broker commissions.