QXO to Acquire Kodiak Building Partners in $2.25 Billion Deal

QXO will pay $2 billion in cash and issue 13.2 million shares to acquire the Colorado-based distributor. A specific provision in the agreement allows QXO to retain the right to buy back those shares at $40 per share. The transaction, which is expected to close in the second quarter of 2026, is projected to be highly accretive to earnings while expanding the company’s total addressable market to $200 billion.

Strategic Expansion and Financing

Kodiak generated roughly $2.4 billion in sales during 2025, with approximately 40% of its revenue tied to high-growth markets in Texas and Florida. The acquisition follows QXO's massive $11 billion purchase of Beacon Roofing Supply and reflects the aggressive consolidation strategy billionaire Brad Jacobs previously utilized to build industry leaders like XPO and United Rentals.

The company is funding its expansion through a significant capital reserve. In January, QXO secured $3 billion in equity financing from investors led by Apollo Global Management and the Singaporean sovereign wealth fund Temasek. Jacobs stated that the firm’s acquisition pipeline remains active, signaling that further deals are likely as the company continues to deploy its available "dry powder."