Brad Jacobs’ QXO to Acquire Beacon Roofing Supply for $11bn
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When QXO, the newly launched acquisition vehicle led by logistics veteran Brad Jacobs, announced its intent to acquire Beacon Roofing Supply in an $11 billion all-cash deal, the building materials sector took notice. The offer, priced at $124.35 per share, represents a 25 percent premium to Beacon’s 90-day average stock price, making it one of the largest transactions in the sector in recent years.
The agreement follows a formal tender offer submitted in late January 2025. While initially unsolicited, QXO’s bid gained traction following investor interest and strategic review. Beacon’s board voted unanimously to accept the proposal, citing strong shareholder value and alignment with QXO’s long-term vision.
This deal positions QXO as a new force in the $100 billion North American building materials market. For Jacobs, it’s another chapter in a career marked by bold rollups and market transformation.
Brad Jacobs brings a proven acquisition playbook to QXO’s first major deal
Jacobs, best known for transforming XPO Logistics into a global leader through acquisitions and spinoffs like GXO and RXO, launched QXO in 2023 with more than $1 billion in capital. His strategy remains consistent: acquire, optimize, and scale.
With Beacon Roofing Supply—the second-largest distributor of roofing and complementary building products in the United States—Jacobs sees a platform primed for modernization.
Backed by major investors including Wellington Management and the Public Investment Fund of Saudi Arabia, QXO isn’t merely a holding company. It is designed to centralize procurement, improve efficiency, and leverage data across a fragmented industry.
Beacon Roofing Supply shareholders to receive $124.35 per share in all-cash deal
QXO’s all-cash tender offers Beacon shareholders an immediate return and a clear exit. Initially deemed unsolicited by Beacon’s leadership, the proposal gained momentum following engagement with key institutional investors and a reevaluation of growth prospects.
The deal includes over 500 Beacon branches across North America and a customer base spanning residential and commercial segments. With financing structured through internal capital and commitments from strategic partners, the transaction is expected to close in the second half of 2025, subject to regulatory review. For Beacon shareholders, the $11 billion payout offers a substantial gain that many analysts agree would have been difficult to achieve through standalone operations.
QXO outlines its post-deal roadmap for growth, digitization, and scale
Jacobs has outlined an ambitious integration strategy focused on centralizing procurement, enhancing route logistics, and applying data analytics to inventory and customer operations. Digital tools used successfully in his previous ventures will now support Beacon’s nationwide network.
QXO plans to double revenue within five years by expanding into adjacent verticals, including insulation, siding, and other specialty materials. Integration will be led by existing Beacon leadership, helping preserve operational continuity while new systems are deployed.
Beacon’s stock climbed near the offer price following the announcement. The deal drew backing from several major funds, including Jared Kushner’s Affinity Partners. Market response has reflected confidence in Jacobs’ track record and QXO’s financial discipline.
Equity analysts flagged both opportunities and risks, particularly around integration and execution. But few dispute that QXO now has the capital and leadership to make an immediate impact. Jacobs has made clear that QXO is structured for long-term expansion beyond roofing into other areas of the building supply chain.
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