QXO News & Events

QXO (QXO) tannounced it has closed its previously disclosed acquisition of TopBuild (BLD). The transaction significantly expands QXO's scale and capabilities across the building products value chain. The company also announced that Alec Covington, TopBuild's former Chairman, joined QXO's Board of Directors, effective immediately. Covington replaces Jared Kushner, who has resigned from the Board of Directors to focus on other commitments. TopBuild's shares will stop trading on the New York Stock Exchange.

Brad Jacobs, Chairman and Chief Executive Officer of QXO (QXO), said, "By acquiring TopBuild (BLD), we're broadening our product offering, adding installation capabilities, and expanding our exposure to fast-growing end markets like data centers. By 2030, we expect to generate at least $300 million in annual synergies largely from procurement, pricing, and cross-selling, while applying TopBuild's operational excellence across QXO. The transaction is expected to be highly accretive to earnings and advance our plan to build a world-class company with $50 billion in revenue. I'm grateful to Jared for his significant contributions to the company, and I'm pleased to welcome Alec to the Board."

QXO (QXO) is acquiring TopBuild (BLD) in a deal expected to close soon, pending final closing conditions.