QXO to Acquire Kodiak Building Partners for $2.25 Billion

By Chris Stiles • Wednesday, February 11 16:29 • Permanent Link

QXO, Inc. (NYSE: QXO) has recently announced its definitive agreement to acquire Kodiak Building Partners for approximately $2.25 billion. The acquisition is expected to be highly accretive to QXO's earnings in 2026 and will expand its current addressable market to more than $200 billion.

Kodiak, a U.S. distributor of various construction products and services, generated approximately $2.4 billion in revenues in 2025. About 40% of Kodiak's 2025 revenues were generated in Florida and Texas, where building market growth has consistently outpaced national market growth over the last decade.

The purchase price comprises $2.0 billion of cash and 13.2 million shares, with QXO retaining the right to repurchase these shares at $40 per share. The transaction is expected to close early in the second quarter of 2026, subject to the satisfaction of customary closing conditions.

Brad Jacobs, Chairman and Chief Executive Officer of QXO, highlighted the complementary nature of the acquisition, stating that it will allow the company to deliver more value to customers across its combined base by cross-selling products and support services. The integration is also expected to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management, and other tech-enabled operating efficiencies.

The integration of Kodiak's structural and exterior construction product offerings with QXO’s existing range aims to better position QXO to grow both market share and wallet share with large homebuilders, aligning with the company’s strategy to become a preferred supplier serving the full project lifecycle of large, multisite developments and master-planned communities.

The acquisition pipeline remains very active for QXO, with plenty of dry powder from the company's recently announced equity financings led by Apollo and Temasek.

Morgan Stanley & Co. LLC and Wells Fargo are acting as financial advisors to QXO, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel. RBC Capital Markets and KeyBanc Capital Markets are serving as financial advisors to Kodiak, and Dechert LLP is acting as legal counsel.

Today the company's shares have moved -4.84% to a price of $23.81. Check out the company's full 8-K submission here.

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