QXO has further expanded into the building products sector by acquiring Kodiak Building Partners for $2.25 billion.
Kodiak Building Partners is a distributor of lumber and components, trusses, windows and doors, construction supplies, waterproofing, roofing, and complementary materials and generated $2.4 billion in revenue in 2025.
The company also offers valued-added assembly, fabrication, and installation services. Kodiak operates 110 locations across 26 states. Approximately 40% of its revenues in 2025 were generated in Florida and Texas.
QXO said the transaction expands its current addressable market to more than $200 billion. A QXO spokesperson said the acquisition triples QXO’s existing market opportunity and places the company in nearly every major building products category.
“The acquisition of Kodiak is highly complementary to our existing business. We’ll be able to deliver more value to customers across our combined base by cross-selling products and support services, and with a greater presence in key markets,” Brad Jacobs, chairman and CEO of QXO, said. “And we expect the integration to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management, and other tech-enabled efficiencies.”
According to a QXO spokesperson, the acquisition provides QXO with ample cross-selling opportunities and expands the company’s sales opportunities to builders and large general contractors. The spokesperson said 16 of Kodiak’s top 20 vendors are shared with legacy Beacon, which QXO acquired for $11 billion in March 2025.
The purchase price comprises $2 billion of cash and 13.2 million shares, with QXO retaining the right to repurchase these shares at $40 per share.
“QXO is the most exciting company in the industry,” said Kodiak Building Partners co-founder and CEO Steve Swinney. “By joining forces, we’re moving from strength to strength to unlock new opportunities for our customers and employees.”
The acquisition is QXO’s first since securing $1.2 billion through a series of funds managed by Apollo Global Management in January.
“QXO has the capacity for more deals. Even after this acquisition, QXO’s 2026 acquisition pipeline remains very active,” a person familiar with the deal told BUILDER. “The company has cash on hand, remaining dry powder from the equity financing deals announced last month with Apollo and Temasek, and leverage capacity.”
