The building products distributor QXO Inc. (NYSE: QXO) announced it is acquiring Kodiak Building Partners from Court Square Capital Partners for approximately $2.25 billion.
According to the Greenwich, Connecticut-headquartered QXO, the purchase price comprises $2 billion of cash and 13.2 million shares, with QXO retaining the right to repurchase these shares at $40 per share. The transaction is expected to close early in the second quarter of this year.
Kodiak is a US distributor of lumber, trusses, windows and doors, construction supplies, waterproofing, roofing, and complementary exterior products, as well as value-added assembly, fabrication, and installation services. The business is a market leader in most of its geographies, with concentrations in the Sun Belt and Mountain states; roughly 40% of Kodiak’s 2025 revenues were generated in Florida and Texas. Kodiak reported roughly $2.4 billion of revenues last year.
“The acquisition of Kodiak is highly complementary to our existing business,” said QXO Chairman and CEO Brad Jacobs. “We’ll be able to deliver more value to customers across our combined base by cross-selling products and support services, and with a greater presence in key markets. And we expect the integration to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management, and other tech-enabled operating efficiencies. Our acquisition pipeline remains very active, with plenty of dry powder from our recently announced equity financings led by Apollo and Temasek.”
Steve Swinney, co-founder and CEO of Kodiak Building Partners, added, “QXO is the most exciting company in the industry. By joining forces, we’re moving from strength to strength to unlock new opportunities for our customers and employees. I want to thank our employees for building a high-quality business at Kodiak and for the value created over the past 15 years, including the last eight with Court Square. I look forward to an even more exciting future as part of QXO.”
