QXO completes acquisition of TopBuild

QXO completes acquisition of TopBuild July 1, 2026 | 9:15 am CDT

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Woodworking Industry News

QXO completes acquisition of TopBuild

By

Dakota Smith

July 1, 2026 | 9:15 am CDT

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QXO Inc. entered into a definitive agreement to acquire TopBuild Corp. for approximately $17 billion in April 2026. Photo by QXO.

GREENWICH, Conn., QXO, Inc. has completed the acquisition of TopBuild Corp. The transaction expands QXO’s scale and capabilities across the building products value chain. QXO now holds leadership positions in key building product categories in North America:

#1 in insulation. #2 in roofing. #1 in waterproofing. #1 or #2 in the lumber and building materials sector, in key geographies served.

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.

Brad Jacobs, chairman and CEO of QXO, said, “By acquiring TopBuild, 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.”

Under the terms of the merger agreement, former TopBuild shareholders will receive shares of QXO’s common stock or a combination of both cash and shares of QXO's common stock based on their elections and subject to proration and the other terms and conditions in the merger agreement.

TopBuild's shares will stop trading on the New York Stock Exchange.

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Mergers and Acquisitions

About the author

Dakota Smith

| Assistant Editor

Dakota is an assistant editor at Woodworking Network, avidly exploring the woodworking industry.

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