QXO
| Type | Public |
|---|---|
| QXO | |
| Industry | Building Materials |
| Founded | 2002 |
| Headquarters | Greenwich, Connecticut, U.S. |
Key people | |
| Website | qxo |
QXO, Inc. is an American publicly traded distributor and installer of building products based in Greenwich, Connecicut.[1] After the acquisition of TopBuild Corp. in Jult 2026, QXO had approximately 28,000 employees, about 1,150 location across the U.S. and Canada, and a fleet of more than 10,000 vehicles.[2] QXO is North America's largest distributor and installer of insulation and second-largest publicly traded distributor of building products, with distribution across roofing, waterproofing, and lumber-related building materials.[3][4]
History
[edit]21st century
[edit]By 2002, Beacon had surpassed $500 million in revenue. Early in fiscal 2004, Robert R. Buck joined the company and succeed Andrew Logie as president and CEO.[5] To obtain money to grow the company, Beacon went public with an initial public offering on the NASDAQ stock exchange, on September 23, 2004.[6] In 2005, The Wall Street Journal ranked Beacon as the sixth-fastest-growing new stock issue behind Google.
The company continued to acquire successful distributors across North America and drive organic growth in existing operations. Within three months of the IPO, Beacon acquired Atlanta-based JGA Corp., which had sales of $74 million. In October 2005, Beacon's made its largest acquisition by purchasing Shelter Distribution, a midwestern distributor with sales of $313 million and 50 branches.[7] Other additions in 2005 and 2006 included Mississippi Roofing, Alabama Roofing, Pacific Supply, Minnesota’s Roof Depot[8] and RSM Supply in Arkansas, Missouri and Oklahoma.[9]
Sales surpassed $850 million in fiscal 2005 and $1.5 billion in fiscal 2006. In April 2007, Beacon acquired North Coast Commercial Roofing Systems based in Twinsburg, Ohio, which had sales in excess of $250 million. This strategic acquisition moved Beacon into three new states—Ohio, New York and West Virginia.[10] At this point, operations now encompassed 172 branches in 37 states and 3 Canadian provinces.
In October 2007, Beacon announced the appointment of Paul M. Isabella as president and chief operating officer.[11]
At the end of 2010, Robert Buck relinquished the title of CEO to Paul Isabella while retaining the title of chairman of the board. Today, Buck remains actively involved with the investment community, acquisitions and monitoring organizational structure and leadership.[12][13]
In fiscal 2011, Beacon increased sales by 12.9% to a record $1.82 billion.[14] The company also expanded further into Canada with the acquisitions of Enercon Products in May, a Western Canada roofing distributor with six locations.
In fiscal 2012, the company exceeded $2 billion in sales for the first time. During 2012, the company also made several strategic acquisitions and opened several new branches which expanded its market coverage. In May 2012, the company acquired Pittsburgh, Philadelphia, headquartered Cassady Pierce, which was founded in 1947 and has six locations in and around the Western Pennsylvania area.[15] A few weeks later, the company announced the opening of their 200th location in Myrtle Beach, South Carolina.[16]
On July 1, 2012, Beacon acquired Southern California based Structural Materials Co.[17] The acquisition more than doubled the size of the company's market penetration in the Southern California region.
Shortly after fiscal 2013 began, the company acquired McClure-Johnston Co.[18] which expanded the company's footprint in the Pennsylvania region.
In 2014, Beacon again expanded its operations again by acquiring Wholesale Roofing Supply based out of Dallas, Texas, All Weather Products based out of Vancouver, and Applicators Sales & Service in New England.[19]
In October 2023, Beacon announced three new locations on the west coast in Salinas, California, Fredrick, Colorado, and Sequin, Texas.[20] Beacon also acquired Garvin Construction in October.[21][22]
In April 2024, Beacon acquired General Siding Supply, headquartered in Omaha, NE.[23]
In March 2025, Beacon agreed to be acquired by QXO, Inc. for $11 billion in an all-cash deal.[24] Following the conclusion of the transaction, Beacon was delisted from the NASDAQ on April 29, 2025,[25] Beacon was then absorbed and rebranded into QXO, Inc.[26]
In June 2024, Brad Jacobs' family office and co-investors invested $1 billion into SilverSun Technologies, a small-cap publicly traded software and IT services company, through a private investment in public equity (PIPE) consisting of $900 million from Jacobs and $100 million from co-investors, including Sequois Heritage.[27] Jacobs, founder and former Chief executive officer of United Rentals and XPO, Inc., became chairman and chief executive officer.[28][29] Renamed QXO, the company subsequently entered building products distribution and installation through acquisitions, including Beacon Roofing Supply in 2025, and Kodiak Building Partners and TopBuild in 2026.[30][31][32]
In January 2025, QXO launched an all-cash tender offer to acquire Beacon for approximately $11 billion.[33] After initially resisting the offer, Beacon entered into a definitive merger agreement with QXO in March 2025.[34][35] QXO completed the acquisition in April 2025.[36]
References
[edit]- ↑ "QXO, Inc. (QXO) Stock Price, News, Quote & History - Yahoo Finance". Yahoo Finance. Archived from the original on 2026-06-18. Retrieved 2026-08-08.
- ↑ Staff, HBSDealer. "More on the QXO-TopBuild deal". HBS Dealer. Retrieved 2026-08-08.
- ↑ Moyer, Liz. "QXO Stock Rises. The Building Products Distributor Strikes a $17 Billion Deal". barrons. Retrieved 2026-08-08.
- ↑ Sebastian, Freddy (2026-04-20). "QXO to Buy Insulation Company TopBuild for $17 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-08.
- ↑ "Beacon Roofing Chair Logie retiring; Buck named new chair". MarketWatch. Retrieved 2013-08-16.
- ↑ "Beacon Roofing Supply, Inc. Announces Pricing of Initial Public Offering of Common Stock". Business Wire. 2004-09-22. Retrieved 2014-11-05.
- ↑ "Beacon Roofing Supply, Inc. Completes Shelter Acquisition". Business Wire. 2005-10-14. Retrieved 2014-11-05.
- ↑ "Beacon Roofing Supply Acquires Minnesota-Based Roof Depot". BuildingOnline. 2006-08-20. Archived from the original on 2014-11-05. Retrieved 2014-11-05.
- ↑ "Beacon Roofing unit acquires RSM". Tulsa World. 2006-09-01. Retrieved 2014-11-05.
- ↑ "RSM EquiCo Capital Markets Leads Negotiations as North Coast Commercial Roofing Systems, Inc. is Acquired by Beacon Roofing Supply, Inc". GlobeNewswire. 2007-06-11. Retrieved 2014-11-05.
- ↑ "Beacon Roofing Supply names Paul Isabella president, COO". MarketWatch. Retrieved 2013-08-16.
- ↑ "Beacon Roofing Supply History – Residential Roofing & Commercial Roofing". Beaconroofingsupply.com. Archived from the original on 2013-12-03. Retrieved 2013-08-16.
- ↑ "Beacon Roofing Supply, Inc. - Beacon Roofing Supply Promotes Paul M. Isabella to President and Chief Executive Officer and Announces Additional Promotions; Robert R. Buck Remains Chairman of the Board". Ir.beaconroofingsupply.com. 2011-01-01. Archived from the original on 2014-03-05. Retrieved 2013-08-16.
- ↑ "Beacon Roofing Supply, Inc. - Annual Reports". Ir.beaconroofingsupply.com. Archived from the original on 2013-12-03. Retrieved 2013-08-16.
- ↑ "Beacon Roofing Supply Acquires Western PA Distributor". ProSales Magazine. 2014-07-02. Retrieved 2014-11-05.
- ↑ "Beacon Roofing Supply Opens Location No. 200". ProSales Magazine. 2014-10-20. Retrieved 2014-11-05.
- ↑ "Beacon Roofing Supply Acquires California-based Structural Materials Co". Business Wire. 2012-12-07. Retrieved 2014-11-04.
- ↑ "Beacon Roofing to acquire McClure-Johnston". Yahoo! Finance. 2012-10-22. Retrieved 2014-11-04.
- ↑ "Beacon Roofing (BECN) Acquires WRS for Branch Expansion". MarketWatch. 2014-10-20. Retrieved 2014-11-04.
- ↑ "Beacon Announces Three New Locations in the West | Roofing Contractor". www.roofingcontractor.com. Retrieved 2024-03-12.
- ↑ "Beacon (BECN) Acquires Garvin, Fortifies Ambition 2025 Goals". Yahoo Finance. 2023-10-03. Retrieved 2024-03-12.
- ↑ "Virginia Fortune 500 company Beacon extends its acquisition spree". WTOP News. 2023-11-06. Retrieved 2024-03-12.
- ↑ "Beacon Announces Acquisition of General Siding Supply". Roofing Contractor. 2024-04-16. Retrieved 2024-04-25.
- ↑ Gottlieb, Bryan (2025-03-20). "QXO Acquires Beacon in $11 Billion All-Cash Deal". Roofing Contractor. Archived from the original on 2025-04-25. Retrieved 2025-06-07.
- ↑ "QXO Finalizes $11 Bln Beacon Acquisition". Nasdaq.com. RTTNews. 2025-04-29. Retrieved 2025-06-07.
- ↑ "QXO Closes Beacon Acquisition, Rebrands Immediately; Jacobs to Ring NYSE Bell | Roofing Contractor". www.roofingcontractor.com. Retrieved 2026-07-22.
- ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
- ↑ Kingston, John (2023-12-04). "Jacobs leading takeover of software company as he readies next move". FreightWaves. Retrieved 2026-08-11.
- ↑ Monica, Paul R. La. "A Bet on QXO Stock Is a Bet on This Billionaire. Why It's Time to Buy". barrons. Retrieved 2026-08-11.
- ↑ Thomas, Lauren (2025-03-20). "Exclusive | Building-Products Distributor QXO Clinches Deal for Beacon Roofing". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
- ↑ Curran, Rob (2026-02-11). "QXO to Buy Kodiak Building for $2.25 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.
- ↑ Oliver Barnes, Julia Rock. "QXO to buy insulation company TopBuild in $17bn deal". Financial Times.
- ↑ Black, Thomas. "When Brad Jacobs Talks, Investors Should Pay Attention". Bloomberg.
- ↑ "Billionaire dealmaker backed by Jared Kushner seals $11bn takeover of US roofing group".
- ↑ Hockett, Mike (2025-04-29). "Done Deal: QXO Completes $11B Purchase of Beacon". Modern Distribution Management. Retrieved 2026-08-11.
- ↑ Thomas, Lauren (2025-03-20). "Exclusive | Building-Products Distributor QXO Clinches Deal for Beacon Roofing". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-08-11.