A billionaire-backed building products distributor is pursuing a takeover of a roofing supply giant after a bid for a global electronics distributor fell through earlier this year.
The Wall Street Journal, citing sources familiar with the matter, reported that QXO made an offer to buy Beacon Roofing Supply and could wrap up a deal before the end of the calendar year.
A potential price tag was not available, and the Journal’s sources noted that the talks could still fall through. The report put Beacon’s market value at more than $6 billion.
QXO was formed by Brad Jacobs — who built XPO into a logistics giant — and other backers through a takeover of the former SilverSun Technologies in June. The company indicated that it planned to pursue acquisitions in order to rapidly build up its operations in the building materials distribution segment; its $9.4 billion bid for French electronics distribution giant Rexel was rejected in September.
