By Emma Peterson. 

The QXO booth team showcases their vision for becoming a comprehensive, customer‑first building materials powerhouse. 

Recently, The Coffee Shops™ crew had the chance to attend the National Association of Home Builders (NAHB)’s International Builders' Show® (IBS) in Orlando, Florida. While there, we met a few of our customers in their booths on the expo floor. One such customer was QXO, who gave us a booth tour and insightful interview!  

The interview started with Brad Jacobs, the CEO of QXO. He gave us a short update on what QCO has been working on recently: 

We're just starting out in this market, with the purchase of Beacon. Since then, we’ve bought a couple other companies in the roofing business and waterproofing business. And now we're in the process of buying Kodiak, getting into lumber and other related products...Really trying to be a comprehensive source for all parts of the building. 

From there, Gabriela Allen, QXO’s senior director of marketing, and Joe Checkler, their SVP of communications, took us into the booth itself, which was organized as a passport system. Gabriela explained, “We wanted an opportunity for customers to engage with us so we can have a better understanding of how we can serve them. So, we have multiple different stations where our customers can chat with different members of the team and, when they stop at those stations, they get a passport stamp that can get them the opportunity to pick out a pair of sunglasses or spin the prize wheel to win up to $1,000 Delta flight credit.” 

At one of these stations, we had the chance to meet Chelsea Oesch, the marketing director for QXO’s private label TRI-BUILT. She shared a bit of how TRI-BUILT was developed with contractors in mind, saying, “TRI-BUILT is QXO's private label house brand product. We partner with the top manufacturers you already know and love and negotiate on a larger scale to save you a little bit of money. We have 7,000 products that we can offer our builders and our workers here.”  

At another station, Gabriela highlighted the efforts QXO is making to engage with Hispanic contractors in Spanish. She explained, “We're reaching out to the Hispanic community through Spanish language trainings, Spanish offerings online and more.” This is key, as Joe pointed out, “More than two-thirds of contractors are Hispanic and in certain areas, Spanish is the is their only language. So, reaching out to them is a big initiative at QXO.” 

This incredible booth design is just one way that QXO is working to connect with the industry and towards their goal of, as Brad put it, “Making a big investment in technology, supply chain and the whole customer experience so that people will get the products and the building materials they need when they need it." 

Watch the whole booth tour and learn more about how QXO is connecting to customers!

By Jesse Sanchez. 

Why roofing contractors are moving toward a single end-to-end platform and how Atlas AI is designed to turn unified data into measurable business insight. 

Roofing contractors are not looking to add more technology to their operations just for the sake of it. They are looking for smarter systems that can work seamlessly together, getting the most out of modern innovations to help streamline their work. During conversations from The Coffee Shops™ sound stage at the International Roofing Expo (IRE), ServiceTitan leaders Chris Petros and Vishal Laddha each noted that the industry is at an inflection point. As companies grow, the opportunity to replace disconnected tools with a more unified approach that strengthens visibility and control is too great to pass up. When data is centralized and workflows are aligned, reporting becomes faster and production is easier to track. Instead of friction, contractors gain clarity at the exact moment they need it most. 

Chris, chief operating officer at ServiceTitan, said contractors are looking for standardized, system-driven operations. He described ServiceTitan as “a business management software that helps roofing contractors really improve their day-to-day operations,” built by turning proven best practices into product features that support sales, margins and customer experience. That standardization begins at the top of the funnel. “People spend money on marketing; they want to convert those leads into booked appointments,” Chris said. From there, contractors want structured in-home presentations, multiple pricing options and clear job tracking that carries through production and closeout. 

Vishal, who leads strategy for exteriors, said many contractors still rely on “three, four, five different softwares” to manage those steps. That fragmentation limits what automation and artificial intelligence can actually deliver. “Having all of your data in a single ecosystem is very important in order for that AI to truly be able to make recommendations on your business,” he said. 

Both leaders pointed to Atlas, ServiceTitan’s AI platform, as the next step in that evolution. Chris explained that Atlas is focused on practical applications that contractors can use immediately in their day-to-day operations, rather than experimental or theoretical tools. Vishal added that AI is designed to function much like a chief of staff for business owners, surfacing key performance insights automatically and delivering answers about sales, operations and productivity without requiring custom dashboards or manual report building. 

To make a single-platform strategy practical for roofing contractors, ServiceTitan has built integrations with major industry partners, including what many refer to as “the big three” distributors, ABC Supply, QXO and SRS Distribution, along with measurement providers that deliver roof reports and estimating data. By connecting ordering, measurements, scheduling and reporting within one ecosystem, contractors can reduce manual entry and minimize communication gaps between the office and the field. At IRE, Chris said many discussions centered on production discipline and capacity planning, particularly “keeping their crews fully utilized and staying ahead of production.” Ultimately, the objective is not just streamlined data but stronger execution, giving contractors the visibility and structure needed to grow without losing control. 

Watch the interviews to learn more about how a single end-to-end platform powered by Atlas AI can help roofing contractors unify their data, streamline operations and gain real-time insight into performance! 

Por Emma Peterson, traducido por Alberto Torres. 

QXO y James Hardie se unen para impulsar las ganancias de los contratistas este abril, mayo y Junio. 

A medida que nos acercamos a los meses más cálidos, contratistas de todo el país ya han comenzado a prepararse para la temporada de mayor actividad en la construcción. Para apoyar estas preparaciones, QXO está trabajando con James Hardie, la marca de revestimiento número uno en Norteamérica, para ofrecer a los contratistas un acceso más rápido a los productos en los colores más populares de su región mediante su promoción de Ahorros de Primavera. 

Esta promoción está disponible para contratistas en las divisiones del Medio Oeste y Norte de QXO en EE. UU. y le brinda la oportunidad de ganar hasta $500 en créditos de estado de cuenta de QXO. ¿Cómo empezar a ahorrar? 

• Registrarse: Inscríbase en la promoción entre el 1 de abril de 2026 y el 30 de junio de 2026. Esto puede hacerse en go.qxo.com/jhspring26. Tenga en cuenta que las cuentas multifamiliares, los clientes inscritos en los programas de reembolsos de James Hardie y los miembros de James Hardie™ ALLIANCE no son elegibles para esta promoción. 
• Comprar: Obtenga $250 en créditos al comprar $3,000 o más en productos Hardie® con acabados ColorPlus® Technology. Los productos con estos acabados no solo ofrecen durabilidad de alto rendimiento, sino que también brindan una consistencia y adherencia de color superiores gracias al proceso de fabricación con aplicación en fábrica y horneado de James Hardie. 
• Aprender: Gane los otros $250 en créditos de estado de cuenta al asistir a una capacitación sobre el método de instalación Trim-Over™ de James Hardie. Trabaje con su representante de ventas o sucursal de QXO para encontrar o programar una capacitación cerca de usted. La capacitación debe realizarse durante el período de la promoción (del 1/4/26 al 30/6/26). 

Esta es una gran oportunidad no solo para obtener ahorros adicionales, sino también para conectarse con capacitaciones valiosas y productos que simplificarán sus flujos de trabajo, acelerarán sus tiempos de instalación y aumentarán la rentabilidad en cada proyecto. 

¡Regístrese hoy en la promoción de primavera 2026 de QXO y James Hardie!

By Heidi J. Ellsworth. 

Strategic growth, scale and cross-trade integration signal a new era for building products distribution. 

The pace of change across the building products industry continues to accelerate, and the latest announcement from QXO is one that should have every contractor, manufacturer and distributor paying close attention. In a move that underscores both confidence and long-term vision, QXO has announced its acquisition of TopBuild, the largest distributor and installer of insulation in North America, in a transaction valued at approximately $17 billion. This agreement was unanimously approved by both companies’ boards of directors.  

In less than a year, QXO has grown into the second largest publicly traded building products distributor in North America. Through the acquisitions of Beacon, Kodiak and now TopBuild, the company has built a combined platform generating more than $18 billion in revenue and over $2 billion in adjusted EBITDA.  

What makes this acquisition especially important is not just the size, but the positioning it creates. Upon closing, QXO will hold leadership positions across multiple critical categories, ranking number one in insulation and waterproofing and number two in roofing. It will also hold leading positions across key lumber and building materials markets. The focus is clear: not to dominate a single vertical, but to build strength across the entire building products distribution landscape.  

For contractors, this shift has real implications. The purchasing power across legacy Beacon and Kodiak product lines is now amplified by TopBuild’s insulation products, introducing a new level of efficiency and opportunity. Contractors working across roofing, insulation and waterproofing will increasingly see value in aligned supply chains that support multiple scopes of work. This kind of integration can drive productivity, improve timelines and ultimately strengthen margins.  

According to QXO, the acquisition will also open the door to larger and more complex projects. With TopBuild’s expertise and scale, QXO is expanding its reach into segments such as data centers and other large-scale developments where coordination across trades is critical.  

From a financial perspective, the deal is expected to be immediately and substantially accretive to earnings while also expanding QXO’s blended EBITDA margin. The purchase price reflects approximately 14.9 times 2025 EBITDA before synergies and 11.8 times post-synergies, supported by an estimated $300 million in expected synergies. These numbers reinforce that this is disciplined expansion designed to deliver long-term value.  

The acquisition also dramatically expands QXO’s addressable market to more than $300 billion. With over 450 additional branches from TopBuild, the combined organization will operate approximately 1,150 locations and employ around 28,000 people. That footprint matters, bringing deeper local presence, stronger relationships and an increased ability to serve contractors where they work every day.  

So, what does this mean for the industry overall? It means we are entering a new phase where consolidation is not just about size, but about capability. It is about bringing together distribution, installation and service in ways that better support contractors and building owners, while creating systems that can handle the growing complexity of modern construction.  

For those of us in roofing and across the broader building envelope, this is a development worth watching closely. The lines between trades are continuing to blur, and companies that can operate across multiple disciplines will have a clear competitive advantage. At the same time, TopBuild’s installer model introduces both opportunities and challenges in the field, while also offering a glimpse into where the industry is heading as companies explore new ways to deliver construction products and services. QXO is sure to address some of the concerns regarding those challenges in the coming weeks, with the TopBuild acquisition scheduled to close during the third quarter.  

The bottom line is this. QXO is not just growing; it is reshaping the landscape of building product distribution and installation. As this strategy continues to unfold, it will challenge every segment of our industry while also creating new opportunities.   

Together, NAHICA and QXO will work to create new pathways for growth, visibility and success for Hispanic contractors

QXO, Inc. (NYSE: QXO) today announced it has joined the National Hispanic Contractors Association (NAHICA) as a national sponsor, reinforcing a shared commitment to empowering Latino contractors across the United States.

The partnership marks a significant step in QXO’s mission to elevate Hispanic professionals in the building products industry. With QXO’s support, NAHICA will expand its efforts to provide education, resources and business opportunities tailored to the needs of Latino contractors, one of the fastest-growing segments in the U.S. construction workforce.

“Having QXO as a national sponsor will make a significant impact on our community’s ability to create access, growth and long-term success for Latino contractors,” said Sergio Terreros, president of NAHICA. “Their commitment aligns with our mission to provide opportunities and strengthen networks for Hispanic professionals in the construction industry.”

“This sponsorship reflects QXO’s commitment to the Latino contractor community and the important work they do,” said Bernal Fernandez, Hispanic marketing manager at QXO. “Hispanic contractors are a critical and growing force in the roofing and construction industries, and together with NAHICA, we can ensure they have access to the tools, network and resources needed to help build a stronger future.”

Together, NAHICA and QXO will work to create new pathways for growth, visibility and success for Hispanic contractors, helping them thrive in an increasingly competitive landscape while contributing to the continued development of communities nationwide.

QXO has a strong history of supporting Hispanic contractors, recognizing the important role they play in the construction industry.

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

About NAHICA

The National Hispanic Contractors Association (NAHICA) is dedicated to empowering Hispanic contractors through advocacy, education and business development. The organization works to create opportunities, strengthen networks and support the growth of Latino professionals in the construction industry.

By Emma Peterson. 

QXO and James Hardie are teaming up to boost contractors' profits this April, May and June.  

As we approach the warmer months, contractors all over have begun preparing for the busy construction season. To help with these preparations, QXO is working with James Hardie, the number one siding brand in North America, to give contractors faster access to products in their region’s most popular colors with their Spring Savings promotion.  

This promotion is available to contractors in the QXO U.S. Midwest and North divisions and gives you the chance to earn up to $500 in QXO statement credits. How do you start saving?  

• Register: Get signed up for the promotion between April 1, 2026, and June 30, 2026. This can be done at go.qxo.com/jhspring26. Please note, multi-family accounts, customers in the James Hardie rebate programs and members of the James Hardie™ ALLIANCE are not eligible for this promotion. 
• Purchase: Earn $250 of your credits by purchasing $3,000 or more of Hardie® Products with ColorPlus® Technology finishes. Products with these finishes not only have high-performance durability, but they also have superior color consistency and adhesion due to James Hardie's factory-applied, baked-on manufacturing process.  
• Learn: Earn the other $250 statement credits by attending a training on the Trim-Over™ Installation Method by James Hardie. Work with your QXO sales rep or branch to find or schedule a training near you. Training must be attended during promotion period (4/1/26 and 6/30/26). 

This is a great opportunity to not only get some extra savings, but it also connects you with valuable training and products that will simplify your workflows, accelerate your installation timeline and drive greater profitability with every project.  

Register for the QXO and James Hardie spring 2026 promotion today!

QXO to become 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.

QXO, Inc. (NYSE: QXO) today announced that it has entered into a definitive agreement to acquire TopBuild Corp. (NYSE: BLD) (“TopBuild”) for approximately $17 billion, significantly expanding QXO’s scale and capabilities across the building products value chain. The transaction is expected to be immediately and substantially accretive to the company’s earnings.

TopBuild is the largest distributor and installer of insulation and related building products in North America. The combination will bring together QXO’s leading positions in roofing, waterproofing, lumber-related building materials and associated products with TopBuild’s insulation capabilities, creating a higher-margin business with expansive value-added offerings for customers.

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

On April 1, 2026, QXO completed its previously announced acquisition of Kodiak Building Partners (“Kodiak”), a leading distributor of lumber, trusses and other building materials, for approximately $2.25 billion. Upon completion of the TopBuild transaction, QXO will operate in an addressable market of more than $300 billion and hold leadership positions in key building product verticals in North America:

• #1 in insulation
• #2 in roofing
• #1 in waterproofing
• #1 or #2 in the lumber and building materials sector, in key geographies served

Brad Jacobs, chairman and chief executive officer of QXO, said: “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. 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 continued, “The TopBuild transaction will also give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters. TopBuild has a deep bench of best-in-class operators, reflected in its industry-leading adjusted EBITDA margin of approximately 18%. We plan to replicate their best practices across QXO, including deploying their ‘special OPS’ teams to continuously improve operational excellence and customer service.”

Robert Buck, chief executive officer of TopBuild, said: “We’re excited to join QXO and combine our leadership in insulation installation and specialty distribution with QXO’s scale, technology and procurement capabilities. Together, we’ll enhance customer service, unlock meaningful cross-selling opportunities and drive continued growth and operating efficiency. I’m proud of our team’s track record, including a 10-year sales CAGR of 13% and adjusted EPS CAGR of 31%. Thank you to the entire TopBuild team for delivering these exceptional results.”

Following the acquisition of TopBuild, QXO will 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.

Proposed transaction

The transaction values each TopBuild share at $505, representing a premium of 19.8% to TopBuild’s 60-day volume-weighted average price and 23.1% to TopBuild’s closing price on Friday, April 17, 2026. Under the terms of the agreement, TopBuild stockholders will have the right to elect to receive $505 in cash or 20.2 shares of QXO common stock for each TopBuild share held, subject to proration, on the condition that the total transaction consideration is paid as approximately 45% in cash and 55% in shares of QXO common stock. The maximum cash proceeds will be capped in aggregate at 45% of the transaction consideration. QXO may increase the maximum amount of stock consideration in the transaction if TopBuild stockholders elect to receive more than 55% of the consideration in shares of QXO common stock. Under the terms of the agreement, QXO will expand its board of directors to include one nominee from TopBuild.

In 2025, TopBuild generated approximately $6.2 billion of net sales and approximately $1.14 billion of adjusted EBITDA, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. QXO expects to realize approximately $300 million of synergies from the integration of TopBuild by 2030, including revenue synergies from cross-selling an expanded range of integrated solutions, as well as cost synergies from scaled procurement, network optimization, logistics efficiencies, inventory management improvements and world-class technology.

The purchase price of approximately $17 billion represents 14.9 times TopBuild’s 2025 adjusted EBITDA before the impact of expected synergies, and 11.8 times TopBuild’s 2025 adjusted EBITDA after the impact of expected synergies—in both cases adjusted EBITDA reflects the full-year contribution of acquisitions completed throughout 2025.

TopBuild’s management has guided to $9 billion to $10 billion in annual revenue and $1.7 billion to $2.0 billion in annual adjusted EBITDA by 2030, driven by a combination of organic growth and accretive M&A across a $90+ billion addressable market. Additionally, TopBuild management has guided to cumulative free cash flow of $4.2 billion to $5.0 billion from 2026 to 2030. TopBuild’s free cash flow conversion (free cash flow divided by adjusted EBITDA) has consistently been in the 60% to 70% range.

Advisors

Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Barclays and Wells Fargo Securities are acting as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to QXO. Goldman Sachs & Co. LLC and RBC Capital Markets are serving as financial advisors to TopBuild and Jones Day is acting as legal counsel to TopBuild.

View the investor presentation: https://www.netroadshow.com/nrs/home/?show=e496ea07

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is the largest distributor and installer of insulation and related building products in North America. The company provides installation and distribution services across residential, commercial and industrial end markets, including insulation used in walls, attics, floors and roofing assemblies; complementary products such as gutters, fireproofing and mechanical insulation; and specialized roofing systems for large-scale buildings such as airports, stadiums and warehouses. TopBuild operates more than 450 locations across the United States and Canada.

Non-GAAP Financial Measures

This communication includes references to financial measures that are prepared other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures include, but are not limited to, combined company revenue, combined company adjusted EBITDA and adjusted EBITDA. We calculate combined company revenue by adding the 2025 revenue of QXO, Kodiak and TopBuild, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. We calculate combined company adjusted EBITDA by adding the adjusted EBITDA of QXO, Kodiak and TopBuild, in each case further adjusted to reflect the full year contribution of acquisitions completed throughout the year, where adjusted EBITDA is calculated by each company as net (loss) income excluding depreciation; amortization; interest (income) expense, net; provision for (benefit from) income taxes; and certain other adjustments that are not considered representative of the applicable company’s underlying operations. Any non-GAAP financial measures used in this communication are in addition to, and should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the expected timing of the closing of the proposed acquisition, the anticipated benefits of the proposed acquisition, including synergies, and expected future financial position, total addressable market, positions in building product verticals and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: (i) the risk that the proposed acquisition of TopBuild may not be completed on the anticipated terms in a timely manner or at all; (ii) the failure to satisfy any of the conditions to the consummation of the proposed acquisition, including the risk that the required shareholder approvals may not be obtained; (iii) the effect of the pendency of the proposed acquisition on each of QXO’s and TopBuild’s business relationships with employees, customers, or suppliers, or on operating results or the businesses generally; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the acquisition agreement for TopBuild, including circumstances that require the payment of a termination fee; (v) the possibility that the proposed acquisition may be more expensive to complete than anticipated, including as a result of unexpected factors or events, significant transaction costs or unknown liabilities; (vi) potential litigation and/or regulatory action relating to the proposed acquisition; (vii) the risk that the anticipated benefits of the proposed acquisition may not be fully realized or may take longer to realize than expected; (viii) the impacts of legislative, regulatory, economic, competitive or technological changes; (ix) QXO’s ability to finance the proposed acquisition; (x) unknown liabilities and uncertainties regarding general economic, market sector, competitive, legal, regulatory, tax and geopolitical conditions; and (xi) those risks and uncertainties set forth in QXO’s and TopBuild’s SEC filings, including each company’s Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. Neither QXO nor TopBuild undertakes any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Information for Investors and Stockholders

In connection with the proposed acquisition, QXO expects to file a registration statement on Form S-4 with the SEC containing a preliminary prospectus of QXO that also constitutes a preliminary joint proxy statement of each of QXO and TopBuild. After the registration statement is declared effective, each of QXO and TopBuild will mail a definitive joint proxy statement/prospectus to stockholders of QXO and TopBuild, respectively. This communication is not a substitute for the joint proxy statement/prospectus or registration statement or for any other document that QXO or TopBuild may file with the SEC in connection with the proposed acquisition. INVESTORS AND SECURITY HOLDERS OF QXO AND TOPBUILD ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the joint proxy statement/prospectus (when available) and other documents filed with the SEC by QXO or TopBuild through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by QXO will be available free of charge on QXO’s website at https://investors.qxo.com and copies of the documents filed with the SEC by TopBuild will be available free of charge on TopBuild’s website at https://www.topbuild.com/investors. Additionally, copies may be obtained by contacting the investor relations department of QXO or TopBuild.

Participants in the Solicitation

QXO and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from QXO’s stockholders in connection with the proposed acquisition. Information regarding QXO’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Security Ownership of Certain Beneficial Owners and Management,” “Executive Compensation,” and “Director Compensation” contained in QXO’s definitive proxy statement on Schedule 14A for QXO’s 2026 annual meeting of stockholders, which was filed with the SEC on March 24, 2026. To the extent holdings of QXO’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

TopBuild and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from TopBuild’s stockholders in connection with the proposed acquisition. Information regarding TopBuild’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Common Stock Ownership of Officers, Directors and Significant Shareholders,” “Compensation Committee Report,” and “Director Compensation” contained in TopBuild’s definitive proxy statement on Schedule 14A for TopBuild’s 2026 annual meeting of stockholders, which was filed with the SEC on March 17, 2026. To the extent holdings of TopBuild’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

The information regarding the interests of such participants in the solicitation of proxies in respect of the potential transaction will be included in the registration statement and joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

The acquisition of Kodiak triples QXO’s total addressable market to over $200 billion, placing QXO in nearly every major building products category.

QXO, Inc. (NYSE: QXO) today announced it has completed its acquisition of Kodiak Building Partners (“Kodiak”) from Court Square Capital Partners for approximately $2.25 billion, expanding QXO’s addressable market to more than $200 billion.

Brad Jacobs, chairman and chief executive officer of QXO, said, “By acquiring Kodiak, we’re providing our customers with a wider range of product offerings and value-added services. In addition, we expect the deal to be highly accretive to 2026 earnings and we remain on track to achieve our goal of $50 billion in annual revenue.”

Steve Swinney, co-founder of Kodiak and leader of QXO’s new LBM division, added, “Today marks a definitive capstone for Kodiak as we join QXO and become a part of the most exciting company in building products.”

Joe Checkler, senior vice president of communications of QXO, said, "Lumber was always part of QXO’s plan, and this gives us entree into that market. Lumber is crucially important because it’s the first point of entry to most projects."

Advisors 

Morgan Stanley & Co. LLC and Wells Fargo acted as financial advisors to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel. RBC Capital Markets and KeyBanc Capital Markets acted as financial advisors to Kodiak, and Dechert LLP served as legal counsel. 

About QXO

QXO is the fastest-growing publicly traded distributor of building products in North America. The company is executing its strategy to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for its shareholders. QXO expects to achieve its target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

About Court Square Capital Partners

Court Square is a middle market private equity firm with over 40 years’ experience. Since 1979, Court Square has completed over 245 platform investments and is focused on helping Founders, Families and Manager-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. As of December 31, 2025, Court Square has $10.1 billion of assets under management and is based in New York, New York. For more information, please visit www.courtsquare.com.

Cautionary statement regarding forward-looking statements

This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the anticipated benefits of the acquisition and expected future financial position and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: (i) the risk that the anticipated benefits of the acquisition may not be fully realized or may take longer to realize than expected; (ii) the effect of the acquisition on QXO’s business relationships with employees, customers or suppliers, operating results and business generally; (iii) unexpected costs, charges or expenses resulting from the acquisition; (iv) potential litigation and/or regulatory action relating to the acquisition; (v) the impact of legislative, regulatory, economic, competitive and technological changes; (vi) unknown liabilities and uncertainties regarding general economic, business, competitive, legal, regulatory, tax and geopolitical conditions; and (vii) the risks and uncertainties set forth in QXO’s filings with the Securities and Exchange Commission, including each company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not undertake any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law. 

By Emma Peterson. 

How recognition and community are empowering women in the roofing industry. 

In a recent episode of Coffee Conversations®, Heidi J. Ellsworth sat down with Christine Mockenhaupt, current chairwoman of National Women in Roofing (NWIR) and director of FP&A at Atlas Roofing Corporation; Jennifer Stone, one of the co-founders of NWIR and the current national account director at Tremco Roofing; and Michelle Ly, co-founder of Hall Roofing & Construction and other businesses in Round Rock, Texas. For this webinar, the panel discussed the importance of mentors and advocates for women in the roofing industry.  

You might recognize Michelle’s name from 2023, when QXO (which was Beacon at the time) chose her as their Female Roofing Professional of the Year. Looking back on it now, Michelle still struggles to believe that QXO gave her that spotlight, sharing, “When QXO told me I was a finalist, I was like, ‘Are you sure? I'm just Michelle from Round Rock.’ And they were just like, ‘Yes, you. People told us about everything you've done in the community, the impact you've made in roofing and how you've changed the way of how people think – you're someone who can make a difference.’” And make a difference is exactly what Michelle did when she won that year, starting with using the cash prize to reroof the River City Youth Foundation. 

Michelle’s story is just one example of how uplifting women in the roofing industry through awards and advocacy can lead to powerful and positive change. Christine shared, “These awards, like the Female Roofing Professional of the Year, really uplift women, both as roofers and as individuals. And at their core, they build a community by recognizing that, yes, we’re all roofers, but we’re also women who need support and relationships from each other.”  

QXO’s work with the Female Roofing Professional of the Year is a great example of how advocacy creates spaces where women can grow together. Just in the last decade, Jennifer has seen the powerful impact of this, adding, “20 years ago, there was not a tremendous amount of books or even visibility on female leadership...Today, we have companies like QXO highlighting female leaders and organizations like NWIR that have full resource libraries to help women learn how to lead. It’s huge.”  

Listen to the podcast or Watch the recording to hear more from these incredible women! And if you’re interested in the 2026 QXO Female Roofing Professional of the Year Award, nominations are open until April 6, 2026!

By Emma Peterson. 

QXO’s annual North American Female Roofing Professional of the Year contest is accepting nominations!  

Across the roofing industry, there are countless incredible women paving the way forward to a more inclusive and stronger industry through their leadership and professionalism. QXO wants to celebrate these women for the outstanding contributions, hence their annual North American Female Roofing Professional of the Year campaign!

Now in its sixth year, the program is accepting nominations through April 6, 2026! If you know an amazing woman in the roofing industry, whether they're a roof installer, an office manager, a siding professional, a marketing officer, an owner, an accountant or in another role, that goes above and beyond for her community, QXO wants to hear about them!  

Nominating someone is as simple as four steps:  

1. Send a photo: Share a photo or two of the incredible professional you are nominating. 
2. Share their story: In 500 words or less, tell QXO about why you are nominating this person. Consider talking about adversity she has overcome, or how she goes above and beyond on the job.  
3. Hit the submit button: Make sure you get your submission in between March 9, 2026 - April 6, 2026!  
4. Vote, vote, vote: Cast your vote for the story that inspires you the most and help QXO find their 2026 Female Roofing Professional of the Year!  

The winner of this contest will receive $10,000 (USD) as well as tickets, airfare and accommodation to the National Women In Roofing Days 2027 and the 2027 International Roofing Expo. There will also be $1,000 (USD) given to the four (4) runners up. Finalists will be selected by a panel and public voting opens up in May 2026. The winner and the runners up will be announced June 3, 2026. 

Overall, this is a great opportunity to celebrate the incredible women that “build by example” and make our industry better. As QXO’s Josephine Berisha (their chief human resources officer), put it, “At QXO, we’re proud to celebrate women who master their craft and inspire the next generation to reach even higher.” 

Nominate a friend, colleague, relative or role model today!