US-based building products distributor QXO has agreed to acquire Kodiak Building Partners from Court Square Capital Partners for about $2.25bn.
The deal includes $2bn in cash alongside 13.2 million shares, which QXO can repurchase at $40 per share.
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The acquisition is anticipated to significantly enhance QXO’s earnings by 2026 and broaden its addressable market to over $200bn.
Established in 2011, Kodiak is a national distributor of key building products, such as lumber, trusses, windows, doors, construction supplies, waterproofing, roofing, and related exterior materials.
The company, based in Colorado, US, employs around 5,500 staff across 110 locations in 26 states and serves more than 10,000 customers, which include contractors, subcontractors, remodelers, and builders in residential, commercial, and industrial sectors. Kodiak reported revenues of around $2.4bn in 2025
QXO chairman and CEO Brad Jacobs said: “The acquisition of Kodiak is highly complementary to our existing business.
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By GlobalData“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 optimisation, 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.”
The integration of Kodiak’s structural and exterior construction products with QXO’s existing offerings is expected to position QXO favourably to increase market share and enhance relationships with large homebuilders.
The acquisition aligns with QXO’s strategic objective to become a preferred supplier throughout the project lifecycle of large, multisite developments and master-planned communities.
The transaction is projected to be finalised in early Q2 2026, pending customary closing conditions.
Kodiak Building Partners co-founder and CEO Steve Swinney said: “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.”
Financial advisory services for QXO are being provided by Morgan Stanley and Wells Fargo, while Paul, Weiss, Rifkind, Wharton & Garrison serves as legal counsel.
