QXO signed a definitive agreement to acquire TopBuild for $17bn, valuing TopBuild shares at $505 each—a 19.8% premium to the 60-day volume-weighted average price and 23.1% above the closing price on April 17, 2026. The boards of both companies have approved the transaction, which is now pending shareholder and regulatory approval with an expected close in Q3 2026.

The planned integration will combine QXO’s roofing, waterproofing and lumber-focused building supplies operations with TopBuild’s insulation distribution and installation activities for residential, commercial and industrial markets. Upon closing, the combined company will operate across all 50 U.S. states and seven Canadian provinces, encompassing approximately 1,150 locations and over 28,000 employees.

QXO projects cost and revenue synergies of roughly $300m by 2030 through integrated procurement, logistics, inventory management and technology initiatives. TopBuild’s management anticipates annual revenue of $9-10bn and adjusted EBITDA of $1.7-2.0bn by 2030, supported by organic growth and acquisitions in a $90bn addressable market, with the combined vehicle fleet exceeding 10,000 units.