Champagne Uncorked
QXO Closes Beacon Acquisition, Rebrands Immediately; Jacobs to Ring NYSE Bell
Nearly six months after news leaked of QXO’s intent to acquire Beacon, CEO Brad Jacobs celebrated the acquisition’s close on April 29. On April 30, Jacobs and more than two dozen new ‘QXOers’ will ring the opening bell at the New York Stock Exchange.
— Bryan Gottlieb/Roofing Contractor | Elements: Adobe Stock, VectorStock
QXO, Inc. finalized its $11 billion acquisition of Beacon Building Supply on Tuesday, immediately rebranding the combined business under the QXO name.
The all-cash transaction, first announced in January and formalized in March, closed on April 29. According to QXO spokesman Joe Checkler, the name change takes effect immediately.
CEO Brad Jacobs will ring the opening bell at the New York Stock Exchange on Wednesday to mark the milestone.
According to NYSE archives, it will be Jacobs’ 10th bell-ringing appearance, second only to former BlackBerry CEO John Chen.
Checkler said 14 former Beacon employees will join Jacobs on the podium, and dozens more Beacon veterans and QXO staffers will be on the NYSE floor.
The company will also hold a town hall on Tuesday for the newly combined workforce. Checkler said the meeting aims to unify teams around QXO’s “technology-first operating model,” which is focused on supply chain automation, AI-driven pricing, and integrated digital ordering platforms.
The acquisition positions QXO as a major player in the $800 billion building materials distribution market, a space Jacobs has described as “highly fragmented and ripe for modernization.”
In a March statement, Jacobs said, “We intend to make QXO very big, very fast,” referencing similar roll-up strategies he executed at United Rentals and XPO Logistics.
Industry analysts largely support the strategic logic. William Blair’s Ryan Merkel noted that the purchase price — about 11 times Beacon’s expected 2025 EBITDA — gives QXO room to expand margins through technology and scale.
Roofing industry insiders are watching closely, noting QXO’s approach could modernize roofing materials distribution in ways contractors have long needed.
QXO financed the acquisition with $5 billion in committed cash and debt facilities, as well as an $830 million private placement.
Contractors should expect changes in digital ordering tools, potential shifts in branch operations, and increased integration of supply chain technology.
Whether those efficiencies benefit contractors' bottom lines or QXO's is the key question.
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