Installed Building Products announced the acquisition of Diamond Energy Systems (DESI), a Minnesota-based company specializing in mechanical insulation services for industrial and commercial retrofit applications. Headquartered in St. Joseph, Minnesota, DESI generates approximately $12 million in annual revenue and strengthens Installed Building Products’ presence and mechanical insulation capabilities throughout the Upper Midwest region.
Installed Building Products said the acquisition aligns with its long-term growth strategy focused on expanding across geographies, products, and end markets through strategic acquisitions. The company noted that, with the DESI acquisition, it has acquired approximately $40 million in annual revenue so far in 2026.
The company also provided an update on its stock repurchase activity. During May through May 18, 2026, Installed Building Products repurchased approximately 240 thousand shares of its common stock for a total cost of about $51.2 million, including commissions, under its existing share repurchase authorization. As of May 19, 2026, the company had approximately $425 million remaining under the repurchase program.
Installed Building Products is an installer of insulation and complementary building products serving residential and commercial markets across the United States.
KEY QUOTE:
“DESI adds approximately $12 million of annual revenue and expands our mechanical insulation offerings throughout the Upper Midwest region. To date in 2026, we have acquired approximately $40 million in annual revenue. Acquisitions remain a key component of our growth strategy and we continue to focus on expansion across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I want to welcome DESI onto our team.”
Jeff Edwards, Chairman and Chief Executive Officer, Installed Building Products
