QXO, Inc.QXO
▲ PositiveCapitalrelevance
QXO completed acquisition of TopBuild, expected to be substantially accretive to earnings.
Impact on stocks 2
Climate Adaptation & Water
QXO, Inc.Consumer Discretionary
Topbuild CorpBLD
Mentioned
QXO has completed its acquisition of TopBuild, a deal expected to be substantially accretive to QXO's earnings. The transaction significantly expands QXO's scale and capabilities across the building products value chain, giving it leadership positions in key North American categories: number one in insulation, number two in roofing, number one in waterproofing, and number one or two in the lumber and building materials sector in key geographies served. Former TopBuild Chairman Alec Covington has joined QXO's Board of Directors, replacing Jared Kushner who resigned to focus on other commitments. Chairman and CEO Brad Jacobs stated that by 2030, QXO expects to generate at least $300 million in annual synergies largely from procurement, pricing, and cross-selling, while advancing its plan to build a world-class company with $50 billion in revenue. Under the merger terms, former TopBuild shareholders will receive QXO common stock or a mix of cash and stock based on their elections, and TopBuild shares will cease trading on the New York Stock Exchange.
QXO, Inc.QXO completed acquisition of TopBuild, expected to be substantially accretive to earnings.
Topbuild Corp