QXO完成收購TopBuild 躍升北美隔熱材料龍頭 預期年協同效益3億美元

EX-99.1
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tm2618991d7_ex99-1.htm
EXHIBIT 99.1

 

 

Exhibit 99.1

 

QXO Completes Acquisition of TopBuild

 

Deal Expected to Be Substantially
Accretive to QXO’s Earnings

 

GREENWICH, Conn. — July 1, 2026 —
QXO, Inc. (NYSE: QXO) today announced it has completed its previously disclosed acquisition of TopBuild Corp. The transaction significantly
expands QXO’s scale and capabilities across the building products value chain. QXO now holds leadership positions in key building
product categories in North America:

 

·#1 in insulation

·#2 in roofing

·#1 in waterproofing

·#1 or #2 in the lumber and building materials sector, in key geographies served

 

The company also announced that Alec Covington, TopBuild’s
former Chairman, joined QXO’s Board of Directors, effective immediately. Mr. Covington replaces Jared Kushner, who has resigned
from the Board of Directors to focus on government service.

 

Brad Jacobs, Chairman and Chief Executive Officer
of QXO, said, “By acquiring TopBuild, we’re broadening our product offering, adding installation capabilities, and expanding
our exposure to fast-growing end markets like data centers. By 2030, we expect to generate at least $300 million in annual synergies largely
from procurement, pricing, and cross-selling, while applying TopBuild’s operational excellence across QXO. The transaction is expected
to be highly accretive to earnings and advance our plan to build a world-class company with $50 billion in revenue. I’m grateful
to Jared for his significant contributions to the company, and I’m pleased to welcome Alec to the Board.”

 

Under the terms of the merger agreement, former TopBuild
shareholders received cash, shares of QXO’s common stock, or a combination of both, based on their elections and subject to proration
and the other terms and conditions in the merger agreement.

 

With the acquisition complete, TopBuild is now a
wholly owned subsidiary of QXO, and its shares stopped trading on the New York Stock Exchange before the market opened today.

 

Advisors

 

Morgan Stanley & Co. LLC acted as lead financial
advisor to QXO, and Barclays and Wells Fargo Securities acted as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton &
Garrison LLP acted as legal counsel to QXO.

 

About QXO

 

QXO is North America’s largest distributor and installer of insulation;
second-largest distributor of roofing products; second-largest publicly traded distributor of lumber and building materials; and largest
distributor of waterproofing products. QXO is the fastest growing company in the $800 billion building products distribution industry
and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders.
The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit
QXO.com for more information.

 

  

  

 

 

Cautionary Statement Regarding Forward-Looking Information

 

This communication contains forward-looking statements. Statements
that are not historical facts, including statements about beliefs, expectations, targets or goals, the anticipated benefits of the acquisition
and expected future financial position and results of operations, are forward-looking statements. These statements are based on plans,
estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some
cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,”
 “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,”
 “believe,” “estimate,” “predict,” “potential,” “target,” “goal,”
or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks
and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those
contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein
include, among others: (i) the risk that the anticipated benefits of the acquisition may not be fully realized or may take longer to realize
than expected; (ii) the effect of the acquisition on QXO’s business relationships with employees, customers or suppliers, operating
results and business generally; (iii) unexpected costs, charges or expenses resulting from the acquisition; (iv) potential litigation
and/or regulatory action relating to the acquisition; (v) the impact of legislative, regulatory, economic, competitive and technological
changes; (vi) unknown liabilities and uncertainties regarding general economic, business, competitive, legal, regulatory, tax and geopolitical
conditions; and (vii) those risks and uncertainties set forth in QXO’s and TopBuild’s filings with the Securities and Exchange
Commission (the “SEC”), including each company’s Annual Report on Form 10-K for the year ended December 31, 2025 and
any subsequent Quarterly Reports on Form 10-Q. Forward-looking statements should not be relied on as predictions of future events, and
these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement
is made. QXO does not undertake any obligation to update any of these statements in light of new information or future events, except
to the extent required by applicable law.

 

QXO Contacts:

 

Media

Joe Checkler
[email protected]
203-609-9650

 

Investors

Mark Manduca
[email protected]
203-321-3889