QXO to Acquire Kodiak Building Partners for $2.25B

Distributors of roofing products, QXO Inc has agreed to acquire Kodiak Building Partners in a deal worth $2.25 billion from Court Square Capital Partners.

It is QXO’s second major deal and first since its $11 billion takeover of Beacon Roofing last year.

QXO is paying $2 billion in cash plus 13.2 million QXO shares, with QXO retaining the right to repurchase the shares at $40.

Kodiak is a building products distributor with reported revenue of $2.4 billion in 2025. The deal is expected to be grow QXO’s turnover this year.

By acquiring Kodiak, QXO is now in every major building-products category. The deal moves QXO into lumber, trusses, gypsum, and construction supplies, with complementary fabrication, assembly, and installation capabilities. The expansion creates a more complete offering in exterior products and strategic entry points into interior categories and service.

Kodiak is the largest distributor in several of its regional markets, such as the fast-growth Sun Belt and Mountain states. Approximately 40% of Kodiak’s 2025 revenues were from Florida and Texas.

Exciting Company

Steve Swinney, Co-Founder and Chief Executive Officer of Kodiak, said QXO is “the most exciting company in the industry.”

QXO has capacity for further deals, and its acquisition pipeline remains robust with the recently announced equity financing deals with Apollo and Temasek.

QXO is aiming for annual revenue to reach $50 billion in the next decade through acquisitions and organic growth in the building products distribution industry estimated to total $800 billion.

Jacobs is a well-known operator, having completed over 500 M&A transactions and three IPOs. The six companies Jacobs has been involved with include United Waste Systems, United Rentals, XPO, GXO Logistics, RXO, and now QXO.

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