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QXO to acquire Kodiak for $2.25 billion. Cash-and-stock deal expected to close in Q2 2026. February 11, 2026 QXO Inc. has agreed to acquire Kodiak Building Partners from Court Square Capital Partners for about $2.25 billion in cash and stock, the companies announced Tuesday. The purchase price includes $2 billion in cash and 13.2 million QXO shares. QXO retains the right to repurchase those shares at $40 each. The transaction is targeted to close early in the second quarter of 2026, subject to customary conditions, and is expected to be highly accretive to 2026 earnings, with gross margins above QXO's core business, according to a company spokesman. Kodiak generated approximately $2.4 billion in revenue in 2025. The company distributes lumber, trusses, windows and doors, construction supplies, waterproofing and roofing products through 110 locations in 26 states and employs about 5,500 people serving more than 10,000 customers. A QXO spokesman said the acquisition will triple QXO's existing market opportunity and expand its total addressable market to more than $200 billion, moving the company into lumber, trusses, gypsum and construction supplies, and placing it in nearly every major building products category. QXO is paying about 10.7 times Kodiak's 2025 EBITDA of $211 million, or roughly 0.95 times sales, the spokesman said. Including expected synergies, the EBITDA multiple would be about 7.3 times. "The acquisition of Kodiak is highly complementary to our existing business," said Brad Jacobs, QXO's chairman and CEO. "We expect the integration to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management and other technology-enabled operating efficiencies." The company said 16 of Kodiak's top 20 vendors overlap with its legacy Beacon operations, which it expects will support procurement and pricing synergies. Industry analysts said the deal could have significant implications for roofing distribution. "QXO's acquisition of Kodiak Building Products could meaningfully shake up the roofing market," said Lilli Tillman Smith, an analyst at Principia. She said Kodiak's regional contractor relationships, combined with QXO's scale and technology focus, could improve pricing, inventory management, and delivery speed. "With more centralized purchasing power and better data, the combined company could compete more aggressively with national distributors while giving contractors more consistent pricing and product access across locations," Tillman Smith said. She added that manufacturers may face pricing pressure but could benefit from broader distribution reach. In insulation, Tillman Smith said changes may unfold more gradually because the category is more specification-driven and influenced by climate zones and building codes. "Roofing may see quicker competitive disruption, while insulation could experience a slower but deeper shift," she said. A person familiar with the matter said QXO has capacity for additional acquisitions in 2026, supported by cash on hand, proceeds from recent equity financings led by Apollo and Temasek, and available borrowing capacity. The deal follows months of investor and industry attention on QXO's acquisition plans after the company raised significant equity capital. Morgan Stanley and Wells Fargo are advising QXO on the transaction. RBC Capital Markets and KeyBanc Capital Markets are advising Kodiak. Looking for a reprint of this article? From high-res PDFs to custom plaques, order your copy today! Tanja Kern is the senior strategic content editor of Roofing Contractor. She brings more than 20 years of experience covering the construction and design industries through print and digital platforms. JOIN TODAY to unlock your recommendations. Already have an account? Sign In

Kodiak Building Partners names Beau Hayes to SVP of channel strategy. Kodiak Building Partners announced the promotion of Beau Hayes to senior vice president of channel strategy. In this role, Hayes will lead the development and execution of Kodiak's channel strategy, shaping how the company partners with suppliers, vendors and customers to drive growth and create value across its nationwide family of businesses. The new role builds on Kodiak's growth and evolving partnerships across the country, creating new opportunities to connect its businesses, suppliers and vendors in more strategic ways. With Hayes' leadership, Kodiak will continue refining how its companies work together and with their partners to deliver stronger results across its diverse markets. "Beau has consistently demonstrated the ability to see the bigger picture - understanding how relationships, markets and operational decisions intersect to create long-term success," said Cliff Shimer, executive vice president of business transformation at Kodiak Building Partners. "His strategic mindset and collaborative approach make him an ideal fit for this new role, which will be critical as Kodiak continues to strengthen its network of partnerships and expand its market presence." How to get what you need from a new ERP The software industry isn't like the car industry. There aren't standard functions that come with... Hayes began his career in the building materials and construction industry in 2003 and joined Jones Heartz in 2007, where he advanced from outside sales to president. Over the years, he guided the company through a period of significant growth and modernization, implementing operational systems that improved efficiency and set the stage for long-term success. Following Jones Heartz's integration into Kodiak, Hayes played an instrumental role in aligning the business with Kodiak's broader strategy while maintaining its strong local identity. His deep industry knowledge and track record of fostering strong relationships across suppliers, vendors and customers have positioned him to lead Kodiak's channel strategy with insight and impact. Join thousands of other lumber and building material industry leaders and keep up with the companies, people, products and issues shaping the industry. Digital partners. Sales comp study. Download this 55-page, in-depth study by LBM Journal of industry trends in sales force compensation and benefits. See how your organization stacks up.

Kodiak Building Partners, a leading building materials distributor, has named Mike Flores president of Zarsky Lumber Company and Vince Welch president of Sun Mountain Doors.