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Gladstone Place Partners represents QXO Inc. as it agrees to buy TopBuild Corp., which relies on FTI Consulting, for $17B.
Daytona Beach-based TopBuild is the nation’s largest distributor and installer of insulation and building products.
The $17B deal combines its offerings with QXO’s line of roofing, waterproofing and lumber-related building materials.
QXO CEO Brad Jacobs said the “TopBuild transaction will give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters.”
He will oversee a company with more than $18B in annual revenues and $2B in adjusted EBITDA.
When the deal closes during Q3, Greenwich-headquartered QXO will have approximately 28,000 employees, 1,150 locations across the US and Canada and a fleet size of more than 10,000 vehicles.
Gladstone Place Partners’s Steve Lipin represents QXO, while FTI Consulting’s Pat Tucker handles TopBuild.
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