QXO has entered into a definitive agreement to acquire Beacon Roofing Supply for $124.35 per share in cash, valuing the company at approximately $11 billion, including its outstanding debt. Beacon, a major distributor of roofing, waterproofing, and exterior products, operates nearly 600 branches across the U.S. and Canada. The Boards of both companies have unanimously approved the transaction, and Beacon’s Board has recommended that shareholders tender their shares. The acquisition, expected to close by the end of April, is contingent on the majority of Beacon shares being tendered and other customary closing conditions. QXO has secured $5 billion in cash and financing commitments to cover the full purchase price, including debt refinancing and transaction costs. The deal has already received antitrust clearance in the U.S. and Canada.
Brad Jacobs, Chairman and CEO of QXO, stated “Acquiring Beacon is a key milestone in our plan to create substantial shareholder value and establish QXO as a leader in the $800 billion building products distribution industry.” Julian Francis, CEO of Beacon, highlighted the company’s transformation under its Ambition 2025 plan and expressed confidence in its future growth. QXO plans to leverage its technology expertise to drive organic growth and strategic acquisitions, aiming for substantial revenue expansion in the coming years.
