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QXO

From Wikipedia, the free encyclopedia
QXO
TypePublic
QXO
IndustryBuilding Materials
Founded2002; 24 years ago (2002)
HeadquartersGreenwich, Connecticut, U.S.
Key people
Websiteqxo.com

QXO, Inc. is an American publicly traded distributor and installer of building products based in Greenwich, Connecticut.[1] After the acquisition of TopBuild Corp. in July 2026, QXO had approximately 28,000 employees, about 1,150 locations across the U.S. and Canada, and a fleet of more than 10,000 vehicles.[2] QXO is North America's largest distributor and installer of insulation and second-largest publicly traded distributor of building products, with distribution across roofing, waterproofing, and lumber-related building materials.[3][4]

History

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In March 2025, Beacon Building Products agreed to be acquired by QXO, Inc. for $11 billion in an all-cash deal.[5] Following the conclusion of the transaction, Beacon was delisted from the NASDAQ on April 29, 2025,[6] Beacon was then absorbed and rebranded into QXO, Inc.[7]

In June 2024, Brad Jacobs' family office and co-investors invested $1 billion into SilverSun Technologies, a small-cap publicly traded software and IT services company, through a private investment in public equity (PIPE) consisting of $900 million from Jacobs and $100 million from co-investors, including Sequoia Heritage.[8] Jacobs, founder and former Chief executive officer of United Rentals and XPO, Inc., became chairman and chief executive officer.[9][10] Renamed QXO, the company subsequently entered building products distribution and installation through acquisitions, including Beacon Roofing Supply in 2025, and Kodiak Building Partners and TopBuild in 2026.[11][12][13]

In January 2025, QXO launched an all-cash tender offer to acquire Beacon for approximately $11 billion.[14] After initially resisting the offer, Beacon entered into a definitive merger agreement with QXO in March 2025.[15][16] QXO completed the acquisition in April 2025.[17]

In February 2026, QXO announced an agreement to acquire Kodiak Building Partners from Court Square Capital for $2.25 billion, and the transaction closed in April 2026.[18] Later that month, QXO announced an agreement to acquire TopBuild for $17 billion, and the transaction closed in July 2026, adding insulation distribution and installation capabilities.[19][20][21]

Products and services

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QXO's customers include professional contractors, homebuilders, building owners, data center operators, and tradespeople in the United States and Canada.[22] QXO sells building products, including insulation, residential and commercial roofing materials, lumber, and waterproofing.[23][24] In addition, the company offers windows, doors, siding, gutters, trusses, construction supplies, and other building materials.[25][26] QXO also exclusively distributes the Tri-Built brand.

Through the acquisitions of Kodiak and TopBuild, the company added installation services alongside assembly and fabrication capabilities, primarily for lumber and insulation products.[27][28]

Financial information

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Between June 2024 and the completion of the TopBuild acquisition in 2026, QXO raised approximately $13.5 billion through equity and equity-linked financings to support acquisitions, including a $3 billion convertible preferred stock commitment led by Apollo and Temasek in 2026.[29][30][31][32][33][34][35][36][37][38]

Institutional and private investors in QXO include AustralianSuper, Franklin Templeton, ICONIQ, Jorge Paulo Lemann, Liberty Mutual, Morgan Stanley Investment Management, New York State Common Retirement Fund and Orbis Investment Management.[39][40][41][42][43]

Following its acquisitions of Beacon, Kodiak and TopBuild, QXO reported approximately $18 billion in combined revenue and nearly $2 billion in combined adjusted EBITDA for 2025, based on actual results adjusted to reflect full-year ownership of the three companies.[44]

References

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  1. ↑ "QXO, Inc. (QXO) Stock Price, News, Quote & History - Yahoo Finance". Yahoo Finance. Archived from the original on 2026-06-18. Retrieved 2026-08-08.
  2. ↑ Staff, HBSDealer. "More on the QXO-TopBuild deal". HBS Dealer. Retrieved 2026-08-08.
  3. ↑ Moyer, Liz. "QXO Stock Rises. The Building Products Distributor Strikes a $17 Billion Deal". barrons. Retrieved 2026-08-08.
  4. ↑ Sebastian, Freddy (2026-04-20). "QXO to Buy Insulation Company TopBuild for $17 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-08.
  5. ↑ Gottlieb, Bryan (2025-03-20). "QXO Acquires Beacon in $11 Billion All-Cash Deal". Roofing Contractor. Archived from the original on 2025-04-25. Retrieved 2025-06-07.
  6. ↑ "QXO Finalizes $11 Bln Beacon Acquisition". Nasdaq.com. RTTNews. 2025-04-29. Retrieved 2025-06-07.
  7. ↑ "QXO Closes Beacon Acquisition, Rebrands Immediately; Jacobs to Ring NYSE Bell | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-07-22.
  8. ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
  9. ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
  10. ↑ Monica, Paul R. La. "A Bet on QXO Stock Is a Bet on This Billionaire. Why It's Time to Buy". barrons. Retrieved 2026-08-11.
  11. ↑ Thomas, Lauren (2025-03-20). "Exclusive | Building-Products Distributor QXO Clinches Deal for Beacon Roofing". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
  12. ↑ Curran, Rob (2026-02-11). "QXO to Buy Kodiak Building for $2.25 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
  13. ↑ Oliver Barnes, Julia Rock. "QXO to buy insulation company TopBuild in $17bn deal". Financial Times.
  14. ↑ Black, Thomas. "When Brad Jacobs Talks, Investors Should Pay Attention". Bloomberg.
  15. ↑ "Billionaire dealmaker backed by Jared Kushner seals $11bn takeover of US roofing group".
  16. ↑ Hockett, Mike (2025-04-29). "Done Deal: QXO Completes $11B Purchase of Beacon". Modern Distribution Management. Retrieved 2026-08-11.
  17. ↑ Thomas, Lauren (2025-03-20). "Exclusive | Building-Products Distributor QXO Clinches Deal for Beacon Roofing". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
  18. ↑ Haleem, Abbas (2026-04-01). "QXO completes Kodiak Building Partners acquisition". Digital Commerce 360. Retrieved 2026-08-18.
  19. ↑ Staff, HBSDealer. "More on the QXO-TopBuild deal". HBS Dealer. Retrieved 2026-08-18.
  20. ↑ "Brad Jacobs' QXO take a high-speed approach to permanent capital". Financial Times.
  21. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  22. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  23. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  24. ↑ "Why TopBuild Could Change Roofing Distribution | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-18.
  25. ↑ "Why TopBuild Could Change Roofing Distribution | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-18.
  26. ↑ Schott, Paul (2026-02-12). "Greenwich-based QXO announces $2.25 billion deal to acquire Colorado-based Kodiak Building Partners". CT Insider. Retrieved 2026-08-18.
  27. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-28.
  28. ↑ Schott, Paul (2026-02-12). "Greenwich-based QXO announces $2.25 billion deal to acquire Colorado-based Kodiak Building Partners". CT Insider. Retrieved 2026-08-28.
  29. ↑ "News". Modern Distribution Management. Retrieved 2026-08-28.
  30. ↑ Castenson, Jennifer. "Big Investment In Building Products Promises To Transform The Industry". Forbes. Retrieved 2026-08-28.
  31. ↑ Jacob, Denny (2024-07-22). "Brad Jacobs's QXO Raises $620 Million, Adds Kushner to Board". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-28.
  32. ↑ "Exclusive: Building-Products Distributor QXO to Raise $830 Million in Latest Equity Offering". The Wall Street Journal. Retrieved 2026-08-28.
  33. ↑ Staff, M. D. M. (2025-04-17). "QXO Selling $500M of Shares in Common Stock Offering". Modern Distribution Management. Retrieved 2026-08-28.
  34. ↑ "QXO Raises Public Offerings of Common Stock and Mandatory Convertible Preferred Stock". Paul, Weiss. Retrieved 2026-08-28.
  35. ↑ "QXO Raises $2 Billion in Public Offering of Common Stock". Paul, Weiss. Retrieved 2026-08-28.
  36. ↑ Monica, Paul R. La. "QXO Is Raising Another $1.8 Billion for Its M&A War Chest". barrons. Retrieved 2026-08-28.
  37. ↑ "QXO Prices $750M Stock Offering as M&A Focus Grows | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-28.
  38. ↑ Carnevali, David. "QXO Boosts Financing Deal to $3 Billion to Pursue M&A". Bloomberg.
  39. ↑ "SEC Filing form 8k". www.sec.gov. Retrieved 2026-09-08.
  40. ↑ "Apollo Leads $1.2 Billion Investment in Brad Jacobs' QXO". Bloomberg.com. Archived from the original on 2026-05-22. Retrieved 2026-09-08.
  41. ↑ Carnevali, David. "QXO Boosts Financing Deal to $3 Billion to Pursue M&A". Bloomberg.
  42. ↑ "Apollo Leads $1.2 Billion Investment in Brad Jacobs' QXO". Bloomberg.com. Archived from the original on 2026-05-22. Retrieved 2026-09-08.
  43. ↑ "Conheça a nova aposta de Lemann, Telles e Sicupira nos EUA - Investidor10". investidor10.com.br (in Brazilian Portuguese). Retrieved 2026-09-08.
  44. ↑ "QXO Investor Q&A". SEC.gov. 2026-07-09. Retrieved 2026-09-23.
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