QXO closes TopBuild acquisition, expands building products scale

• QXO (NYSE:QXO) completed its acquisition of TopBuild Corp, expanding its position across North American building products.
• The combined business now ranks #1 in insulation and waterproofing, and #2 in roofing.
• QXO said it expects at least $300 million in annual synergies by 2030 from the transaction.

QXO (NYSE:QXO) has closed its previously announced acquisition of TopBuild, expanding its footprint across insulation, roofing, waterproofing, and building materials distribution in North America.

The deal shifts QXO’s competitive positioning compared with its standalone operations earlier in the year, adding installation capabilities and broader product coverage across the construction supply chain.

QXO said the combined business now holds leading positions in multiple categories, including #1 in insulation and waterproofing, and #2 in roofing, with additional strength in lumber and building materials in key regions.

The company said former TopBuild Chairman Alec Covington has joined QXO’s board, replacing Jared Kushner, who resigned to focus on other commitments.

QXO also said it expects at least $300 million in annual synergies by 2030, driven by procurement, pricing, and cross-selling, and said the transaction is expected to be accretive to earnings.

QXO said the acquisition supports its broader strategy to build a large-scale building products company with a target of reaching $50 billion in revenue over time.