QXO Looking to Hit $50 Billion Mark in Next Few Years

After a big acquisition year, the giant distributor looks to grow through both new deals and internal expansion.

Speaking recently at the Economic Club of New York, company founder Brad Jacobs said that QXO’s acquisition earlier this year of Beacon Roofing Supply was just the first step in his goal to take the company to the $50 billion mark.

“The goal is to get to $50 billion in revenue,” he said according to a report on his presentation. “That’s the next mountain top we’re gonna climb. So with the $9 or $10 billion we already bought (Beacon’s 2024 annual sales were $9.8 billion), we’re a quarter to a third of the way there already.”

Jacobs said he plans to do additional acquisitions to bring in $30 to $50 billion in annual revenue in addition to organic growth in its existing businesses.

Jacobs, speaking as part of the Economic Club’s author series program, is often described as a serial entrepreneur, as well as the author of books on growing businesses. Jacobs said he finds the building improvement field “very sexy. I looked at about 600 companies over about 55 different industries and this is the first one that literally checked every box. This was the girl I wanted to marry.”

“I think it’s a safe bet that building products are not going into the metaverse. I think that five years or 10 years from now, you’re still gonna go home to a real physical house with a roof and windows and doors and bathtub.

“And I think over time, because of the shortage of housing and the age of all the commercial and residential houses and buildings, I think there’s gonna be a lot of repair and remodeling,” Jacobs noted.

Jacobs said he usually has as many as 50 potential deals that he is looking at and that currently there are seven that have moved up to more serious discussions. “Our strategy is not to just look at one deal and fall in love with it and overpay for it. That doesn’t work in terms of what we’re trying to do. We’re trying to create dramatic shareholder value.”

Image: The Economic Club of New York

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