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Building products distributor QXO Inc. has agreed to acquire Kodiak Building Partners from private equity owner Court Square Capital Partners in a transaction valued at approximately $2.25 billion, with Paul Weiss Rifkind Wharton & Garrison LLP advising QXO and Dechert LLP representing Kodiak.

The purchase price includes $2 billion in cash and 13.2 million shares of QXO stock. The company said it will retain the option to repurchase those shares at $40 each under agreed terms.

QXO said the acquisition marks another step in its strategy to scale through targeted deals and internal expansion. The company has set a long-term goal of reaching $50 billion in annual revenue within the next decade. As of Sept. 30, 2025, QXO reported trailing 12-month revenue of about $4.7 billion.

Kodiak brings a sizable national footprint and established relationships with homebuilders and contractors. The distributor supplies lumber, trusses, windows, doors and other construction materials, and generated roughly $2.4 billion in revenue in 2025. The company has a strong presence across the Sun Belt and Mountain regions, with about 40% of sales coming from fast-growing markets in Florida and Texas.

QXO said adding Kodiak’s structural and exterior product lines will broaden its offering and allow it to serve customers across more stages of residential construction projects. The company expects the combined platform to strengthen purchasing power, improve distribution efficiency and deepen relationships with large, multisite builders.

Chair and CEO Brad Jacobs said the deal should support margin expansion through procurement scale, network optimization and technology tools such as inventory management systems. He added that QXO continues to evaluate additional acquisitions, supported by recent equity financings led by Apollo and Temasek.

Kodiak co-founder and CEO Steve Swinney said joining QXO will provide new growth opportunities for employees and customers and position the business for further geographic expansion.

The transaction is expected to close early in the second quarter of 2026, subject to customary closing conditions.

The Paul Weiss deal team includes partners Nickolas Bogdanovich, David Huntington and Scott Barshay. Dechert’s team is led by partners Eric Siegel and Stephanie Haas.