Greenwich-based QXO Inc. has agreed to acquire TopBuild Corp. for about $17 billion.
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Greenwich-based QXO Inc. has agreed to acquire TopBuild Corp. for about $17 billion, marking its largest deal to date as it continues an aggressive acquisition strategy in the building products sector.
The companies said the deal, announced April 19, is expected to close in the third quarter, pending shareholder approvals and other customary conditions.
TopBuild, based in Daytona Beach, Florida, distributes and installs insulation and related building products across residential and commercial markets. The deal would significantly expand QXO’s footprint and move it into the insulation segment, adding to its existing positions in roofing, waterproofing and lumber-related materials.
Following the acquisition, the combined company is expected to generate more than $18 billion in annual revenue and employ about 28,000 people across more than 1,100 locations in the United States and Canada.
The purchase price values TopBuild shares at $505 each, with shareholders able to receive a mix of cash and stock under the terms of the agreement.
The deal follows QXO’s recent $2.25 billion acquisition of Kodiak Building Partners, which closed earlier this month, and its roughly $11 billion purchase of Beacon Roofing Supply in 2025.
Those transactions are part of a broader effort led by Chairman and CEO Brad Jacobs to rapidly scale the company through consolidation in the fragmented building products distribution industry. QXO has said it is targeting $50 billion in annual revenue over the long term.
TopBuild reported about $6.2 billion in sales in 2025. QXO said it expects to achieve cost savings and revenue gains from combining operations over time, including through expanded product offerings and shared procurement and logistics.
