QXO has entered into a definitive agreement to acquire Kodiak Building Partners from Court Square Capital Partners for approximately $2.25 billion. The transaction consists of $2.0 billion in cash and 13.2 million shares, with QXO retaining the right to repurchase the shares at $40 per share. The acquisition is expected to close early in the Q2 2026, according to QXO.
Kodiak generated approximately $2.4 billion in revenue during 2025 as a US distributor of lumber, trusses, windows, doors, roofing and other exterior construction products, alongside value-added fabrication and installation services. About 40% of the company's 2025 revenue came from Florida and Texas, markets where building activity has consistently outpaced national growth over the past decade. The deal is expected to be highly accretive to 2026 earnings and expand QXO's current addressable market to more than $200 billion.
The combination positions QXO to cross-sell products and support services across its enlarged customer base. The company cited scaled procurement, network optimization and AI-powered inventory management as key drivers of expected margin expansion following the integration. QXO described its acquisition pipeline as active, with additional capital available from recent equity financings led by Apollo and Temasek.
