QXO Inc. announced it will acquire TopBuild Corp. for approximately $17 billion, in a transaction unanimously approved by the boards of directors of both companies.
“TopBuild will be our most significant acquisition yet, making QXO the second-largest publicly traded building products distributor in North America,” said QXO chair and CEO Brad Jacobs.
QXO explained that TopBuild is the largest distributor and installer of insulation and related building products in North America, adding that the deal is complementary to its offering in roofing, waterproofing, lumber-related building materials, and associated products.
“The TopBuild transaction will also give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters,” Jacobs continued. “We plan to replicate their best practices across QXO, including deploying their ‘special OPS’ teams to continuously improve operational excellence and customer service.”
Following the acquisition of TopBuild, QXO will have approximately 28,000 employees, 1,150 locations across 50 states and seven Canadian provinces, and a fleet of more than 10,000 vehicles.
“We’re excited to join QXO and combine our leadership in insulation installation and specialty distribution with QXO’s scale, technology, and procurement capabilities,” said TopBuild CEO Robert Buck.
Over the past 11 months, QXO has undertaken more than $13 billion in acquisitions, closing Beacon in 2025 and Kodiak earlier this month.
The deal is expected to close in the third quarter of 2026, and is subject to customary closing conditions, including approval by the shareholders of both companies.
