QXO has entered a definitive agreement to acquire TopBuild for approximately $17 billion, a deal that will make QXO the second largest publicly traded building products distributor in North America. The combined company will generate more than $18 billion in revenue and over $2 billion in adjusted EBITDA, according to QXO Chairman and CEO Brad Jacobs.
TopBuild operates as the largest distributor and installer of insulation and related building products across North America. The acquisition will pair QXO's existing positions in roofing, waterproofing and lumber-related materials with TopBuild's insulation capabilities. The transaction is expected to close in the Q3 2026, subject to shareholder approvals and customary closing conditions.
Jacobs noted that QXO has built its market position through over $13 billion in acquisitions over the past 11 months, including Beacon in 2025 and Kodiak earlier this month. TopBuild CEO Robert Buck reported that his company generated approximately $6.2 billion in net sales and $1.14 billion in adjusted EBITDA in 2025. TopBuild's adjusted EBITDA margin stands at approximately 18%, which Jacobs described as industry-leading.
Following the acquisition, QXO will employ approximately 28,000 people across 1,150 locations in all 50 US states and seven Canadian provinces, operating a fleet of more than 10,000 vehicles. The combined entity will address a market exceeding $300 billion. QXO expects to realize approximately $300 million in synergies from the integration by 2030, including revenue gains from cross-selling and cost reductions from procurement, network optimization and logistics efficiencies.
QXO, Inc. is the largest publicly traded distributor of roofing, waterproofing, and related products and the second largest publicly traded distributor of lumber and building materials in North America.
