The thermal expansion and heat capacity of $\mathrm{Fe}{\mathrm{Sb}}_2$ at ambient pressure agrees with a picture of a temperature induced spin state transition within the Fe $t_{2g}$ multiplet. However, high pressure powder diffraction data show no sign of a structural phase transition up to 7 GPa. A bulk modulus $B=84\left(3\right)$ GPa has been extracted and the temperature dependence of the Grüneisen parameter has been determined. We discuss here the relevance of a Kondo insulator description for this material.