"The company's $1.2 billion investment made public last week now totals $3 billion, with an additional $1.8 billion in funding from Apollo, Temasek, and other investors announced on Monday. Under the terms of the deal, QXO must complete or announce an acquisition by July 15. QXO, a distributor of roofing products and building materials that billionaire Brad Jacobs founded in 2023, has an ambitious goal of increasing its annual revenue from about $10 billion to $50 billion within about five years."
"QXO is considering both mid-sized deals consisting of companies between $1 billion and $5 billion in revenue, along with more transformational deals involving companies with greater than $5 billion in revenue. William Blair analyst Ryan Merkel estimated last week that QXO had amassed a $7 billion to $8 billion war chest. Based on that estimate, the company could now have roughly $9 billion to $10 billion available for additional acquisitions, following the latest funding announcement."
QXO raised $1.8 billion from Apollo, Temasek and other investors, bringing disclosed funding to $3 billion to support planned acquisitions. The deal requires QXO to complete or announce an acquisition by July 15. QXO distributes roofing products and building materials and was founded by Brad Jacobs in 2023. The company targets growth from about $10 billion to $50 billion in annual revenue within roughly five years. QXO is in late-stage talks with seven potential targets, including private and family-owned businesses in the US and Europe, and is considering both mid-sized and transformational deals. Analysts estimate roughly $9–10 billion could be available for acquisitions after the latest funding.
Read at www.housingwire.com
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