QXO

QXO
TypePublic
QXO
IndustryBuilding Materials
Founded2024; 2 years ago (2024)
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. 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. 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.

History

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. Jacobs, founder and former Chief executive officer of United Rentals and XPO, Inc., became chairman and chief executive officer. 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.

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

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. 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.

In October 2026, Forbes ranked QXO 20th on its 2027 list of the Most Trusted Companies in America.

Products and services

QXO's customers include professional contractors, homebuilders, building owners, data center operators, and tradespeople in the United States and Canada. QXO sells building products, including insulation, residential and commercial roofing materials, lumber, and waterproofing. In addition, the company offers windows, doors, siding, gutters, trusses, construction supplies, and other building materials. 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.

Financial information

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.

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.

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.

References

  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. ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
  6. ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
  7. ↑ 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.
  8. ↑ 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.
  9. ↑ Curran, Rob (2026-02-11). "QXO to Buy Kodiak Building for $2.25 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
  10. ↑ Oliver Barnes, Julia Rock. "QXO to buy insulation company TopBuild in $17bn deal". Financial Times.
  11. ↑ Black, Thomas. "When Brad Jacobs Talks, Investors Should Pay Attention". Bloomberg.
  12. ↑ "Billionaire dealmaker backed by Jared Kushner seals $11bn takeover of US roofing group".
  13. ↑ Hockett, Mike (2025-04-29). "Done Deal: QXO Completes $11B Purchase of Beacon". Modern Distribution Management. Retrieved 2026-08-11.
  14. ↑ 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.
  15. ↑ Haleem, Abbas (2026-04-01). "QXO completes Kodiak Building Partners acquisition". Digital Commerce 360. Retrieved 2026-08-18.
  16. ↑ Staff, HBSDealer. "More on the QXO-TopBuild deal". HBS Dealer. Retrieved 2026-08-18.
  17. ↑ "Brad Jacobs' QXO take a high-speed approach to permanent capital". Financial Times.
  18. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  19. ↑ Newman, Alan Schwarz, Heather. "Forbes Most Trusted Companies in America 2027 List". Forbes. Retrieved 2026-10-25.{{cite web}}: CS1 maint: multiple names: authors list (link)
  20. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  21. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-18.
  22. ↑ "Why TopBuild Could Change Roofing Distribution | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-18.
  23. ↑ "Why TopBuild Could Change Roofing Distribution | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-18.
  24. ↑ 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.
  25. ↑ Hockett, Mike (2026-07-01). "QXO Completes $17B TopBuild Deal, Pushing Annual Revenue Past $16B". Modern Distribution Management. Retrieved 2026-08-28.
  26. ↑ Schott, Paul (2026-02-12). "Greenwich-based QXO announces $2.25 billion deal to acquire Colorado-based Kodiak Building Partners". CT Insider. Retrieved 2026-08-28.
  27. ↑ "News". Modern Distribution Management. Retrieved 2026-08-28.
  28. ↑ Castenson, Jennifer. "Big Investment In Building Products Promises To Transform The Industry". Forbes. Retrieved 2026-08-28.
  29. ↑ 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.
  30. ↑ "Exclusive: Building-Products Distributor QXO to Raise $830 Million in Latest Equity Offering". The Wall Street Journal. Retrieved 2026-08-28.
  31. ↑ Staff, M. D. M. (2025-04-17). "QXO Selling $500M of Shares in Common Stock Offering". Modern Distribution Management. Retrieved 2026-08-28.
  32. ↑ "QXO Raises Public Offerings of Common Stock and Mandatory Convertible Preferred Stock". Paul, Weiss. Retrieved 2026-08-28.
  33. ↑ "QXO Raises $2 Billion in Public Offering of Common Stock". Paul, Weiss. Retrieved 2026-08-28.
  34. ↑ Monica, Paul R. La. "QXO Is Raising Another $1.8 Billion for Its M&A War Chest". barrons. Retrieved 2026-08-28.
  35. ↑ "QXO Prices $750M Stock Offering as M&A Focus Grows | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-08-28.
  36. ↑ Carnevali, David. "QXO Boosts Financing Deal to $3 Billion to Pursue M&A". Bloomberg.
  37. ↑ "SEC Filing form 8k". www.sec.gov. Retrieved 2026-09-08.
  38. ↑ "Apollo Leads $1.2 Billion Investment in Brad Jacobs' QXO". Bloomberg.com. Archived from the original on 2026-05-22. Retrieved 2026-09-08.
  39. ↑ Carnevali, David. "QXO Boosts Financing Deal to $3 Billion to Pursue M&A". Bloomberg.
  40. ↑ "Conheça a nova aposta de Lemann, Telles e Sicupira nos EUA - Investidor10". investidor10.com.br (in Brazilian Portuguese). Retrieved 2026-09-08.
  41. ↑ "QXO Investor Q&A". SEC.gov. 2026-07-09. Retrieved 2026-09-23.