QXO Continues to Expand with $17 Billion Acquisition

Distributors of roofing products, QXO Inc, has announced the $17 billion acquisition of TopBuild.

QXO says it expects the transaction to ‘significantly’ expand its scale and capabilities across the building products value chain.

Landmark Acquisition

TopBuild is the largest distributor and installer of insulation and related building products in North America. The agreement will combine QXO’s position in roofing, waterproofing, lumber-related building materials and associated products with TopBuild’s insulation capabilities.

The acquisition is expected to close during the third quarter of 2026.

The announcement follows the completion of QXO’s acquisition of Kodiak Building Partners, the distributor of lumber, trusses, and other building materials, for $2.25 billion in April.

Brad Jacobs, Chairman and CEO of QXO, said: “Over the past 11 months, we’ve built QXO into a market leader through more than $13 billion of acquisitions, closing on Beacon in 2025 and Kodiak earlier this month.

“TopBuild will be our most significant acquisition yet, making QXO the second largest publicly traded building products distributor in North America, with more than $18 billion of combined company revenue and more than $2 billion of combined company adjusted EBITDA.”

Following the acquisition of TopBuild, QXO will have 28,000 employees and operate in 1,150 locations across all 50 U.S. states, as well as seven Canadian provinces.

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