Building products distributor QXO Inc. said Wednesday it has agreed to acquire Kodiak Building Partners from Court Square Capital Partners for approximately $2.25 billion, with Paul Weiss Rifkind Wharton & Garrison LLP advising QXO and Dechert LLP representing Kodiak.

QXO said its purchase of Kodiak is part of its plan to boost annual revenues within the next decade through acquisitions and organic growth. (Photo by Jaque Silva/SOPA Images/Sipa USA) (Sipa via AP Images) The purchase price comprises $2 billion of cash and 13.2 million shares, with QXO retaining the right to repurchase the shares at $40 per share, according to a QXO announcement.

QXO said the acquisition is part of its target to achieve an ambitious $50 billion in annual revenues within the next decade through acquisitions and organic growth. As of Sept. 30, 2025, QXO reported trailing 12-month revenues of about $4.7 billion.

"The integration of Kodiak's structural and exterior construction product offerings with QXO's existing range will better position QXO to grow both market share and wallet share with large homebuilders," the firm said. "This aligns with the company's strategy to become a preferred supplier serving the full project lifecycle of large, multisite developments and master-planned communities."

Kodiak had about $2.4 billion of revenues in 2025 as a U.S. distributor of lumber, trusses, windows and doors, construction supplies and other building products.

The business is a leader in parts of the Sun Belt and Mountain states, and about 40% of Kodiak's 2025 revenues were generated in Florida and Texas, the announcement said.

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

Brad Jacobs, chair and CEO of QXO, said in a statement that the complementary acquisition is expected "to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management, and other tech-enabled operating efficiencies."

He added that the company's acquisition pipeline remains "very active," with recent equity financings led by Apollo and Temasek.

Steve Swinney, co-founder and CEO of Kodiak Building Partners, said the merger will "unlock new opportunities for our customers and employees."

The Paul Weiss team includes partners Nickolas Bogdanovich, David Huntington and Scott Barshay.

The Dechert team is led by partners Eric Siegel and Stephanie Haas.