Greenwich-Based Company Agrees To $17 Billion Acquisition, Expanding Market Footprint

GREENWICH, CT — Greenwich-based building products distributor QXO recently announced it has entered into a definitive agreement to acquire TopBuild Corp. for approximately $17 billion.

TopBuild is the largest distributor and installer of insulation and related building products in North America.

The combination with QXO's leading positions in roofing, waterproofing, and lumber-related building materials will create "a higher-margin business with expansive value-added offerings for customers," according to QXO.

The transaction has been unanimously approved by the boards of directors from both companies, QXO said in a news release, and is subject to customary closing conditions, including approval by TopBuild and QXO shareholders. The acquisition is expected to close in the third quarter of 2026.

"Over the past 11 months, we’ve built QXO into a market leader through more than $13 billion of acquisitions, closing on Beacon in 2025 and Kodiak earlier this month," said Chairman and CEO of QXO Brad Jacobs. "TopBuild will be our most significant acquisition yet, making QXO the second-largest publicly traded building products distributor in North America, with more than $18 billion of combined company revenue and more than $2 billion of combined company adjusted EBITDA."

Jacobs said the transaction will give QXO "critical mass in the insulation sector and expand our exposure to large complex projects like data centers, where scale matters."

CEO of TopBuild Robert Buck said the company is excited to join QXO and combine specialties.

"Together, we’ll enhance customer service, unlock meaningful cross-selling opportunities, and drive continued growth and operating efficiency," Buck said in a news release.

QXO will now have approximately 28,000 employees, 1,150 locations across all 50 U.S. states and seven Canadian provinces, and a fleet size of more than 10,000 vehicles, according to the company.

The transaction follows QXO's acquisition of Kodiak Building Partners, a leading distributor of lumber, trusses and other building materials, for approximately $2.25 billion. The deal was announced on April 1.

With the acquisition of TopBuild, QXO says it will hold leadership positions in key building product segments in North America, including being No. 1 in insulation and waterproofing, No. 2 in roofing, and No. 1 or 2 in the lumber and building materials sector.

More information on the transaction with TopBuild can be found here.