From moments of personal growth to powerful reminders of why relationships matter, our crew experienced IRE as a celebration of progress, both individually and collectively. 

Trade shows are often measured by square footage, attendance numbers and new product launches. But for The Coffee Shops™ crew, the International Roofing Expo (IRE) reminded us that the heart of this industry has always been its people. 

Here’s IRE 2026, told through the voices of our crew. 

Growing into new roles and new confidence 

Jessica Bravo, our En Español program coordinator, reflected on how much can change in just one year when opportunity meets courage: 

IRE 2026 was one for the books. For me, it was an opportunity to step out of my comfort zone. Last year, I was running the camera; this year, I was the one doing the interviews. It means a lot to reflect on where I am now compared to where I was just a year ago. 

I love IRE because it creates space to connect with the Spanish-speaking community and get real face time with contractors. It’s an incredible environment to connect, network and learn.  

Alberto and I had the chance to walk the show floor and connect with many of our partners, including QXO, MuleHide, TAMKO® and SRS Distribution. We also connected with SRS Para Latinos partners, vendors, ambassadors and award winners. 

Stay tuned for all the En Español interviews coming soon! 

Alberto Torres, our Spanish content coordinator and newest crew member, echoed Jessica’s sense of growth as he experienced IRE from a completely new perspective this year. 

In previous years, I attended as a guest, but this time, I was working the show. 

Since IRE is the biggest event in the roofing industry, it felt a little intimidating at first. But once I arrived, everything started to fall into place. I met Jessica at the SRS Para Latinos lounge, and the confidence she had in me was bigger than the confidence I had in myself. She handed me the camera and told me to start recording like it was the most natural thing in the world. I was the new guy standing in the middle of so many Hispanic professionals – people who have built strong careers in the industry – waiting to watch other leaders receive their awards. And honestly, you know how intimidating that can feel. But I took a deep breath and started recording. 

The show was incredible, and I couldn't have done it without the support and encouragement from my crew members at RoofersCoffeeShop®. What stood out the most to me wasn't just the size of the show floor, but the sense of community. IRE truly feels like more than an event – it feels like a reunion. Not only inside the convention center, but outside of it too, people were genuinely happy to see each other, connect and spend quality time together. 

This experience reminded me that the roofing industry is built on relationships, and that there's a place for all of us to grow, contribute and be seen. 

Celebrating milestones and making space for belonging 

This year’s show marked a major milestone for the National Women in Roofing’s NWIR Days that preceded IRE. Megan Ellsworth, our multimedia director, captured the emotional weight of the moment: 

The biggest highlight for me the week of IRE was National Women in Roofing Days. We celebrated 10 years of the association, and it was an emotional and deeply meaningful two days full of connection, learning and growth. Some stand out moments from the day for me were the Survivor themed class about building resiliency, Mandy McIntyre's class on confidence and the founders' keynote talk in the morning.  

Having watched the creation of NWIR from the age of 17 to now has been an honor and a privilege. Getting to see my mom, Heidi J. Ellsworth, and the other three founding women talk about the struggles, the joys and the triumphs of starting NWIR was heartwarming and shows me truly how far we have come, and also how far we have yet to go. 

Relationships are the foundation of the industry 

Again and again, our crew came back to the same realization that IRE is powered by relationships. Dani Sheehan, content strategist for The Coffee Shops elaborated: 

I spent all three days walking the show floor with Camden during interviews, and it was such a powerful reminder of the impact this industry has. Being there made it possible not just to see the show, but to truly experience it, hearing the different stories of partners we work with every day and learning sides of their businesses we don’t always get to see. 

Running into familiar faces from last year, reconnecting with friends and spending time with partners like CertainTeed was easily one of the highlights of the week. It was positive, energizing and genuinely fun. 

James Ellsworth, our CFO, felt as if that sense of connection showed up in unexpected places: 

It was quite a good, positive week. The sound stage at IRE did 89 recordings over the course of three days, and Karen took on the bulk of those. We had experts from around the industry all wanting to get in on the booth and the sound stage. The green room that we had was quite the hot spot. All the people wanted to hang out there and relax. And it was a lot of fun this morning having Alberto and Jessica hand out our backpacks. We had little kids wearing them, which was really cute. We had The Coffee Shops everywhere, and it was really quite impressive. It was a great week, very busy and very successful. 

Storytelling as a service to the industry 

At the center of it all was a shared purpose: telling the industry’s stories and making sure no one feels left out. Karen Edwards, The Coffee Shops’ COO, made her mark interviewing industry connections on the soundstage: 

Being on the sound stage and interviewing our partners, vendors and manufacturers from across the show was incredibly rewarding. It’s so cool that we’re able to bring a little piece of IRE to the people who aren’t able to attend. 

Our goal is really to focus on the industry – telling the stories, having those conversations and sharing those interviews – and as Heidi says, uplifting and amplifying the entire industry. It was a fabulous week. 

Lauren White, our editor in chief, summed it up best when she reflected on what it means to show up with intention: 

It's always so fun to see the same faces year after year… for us to be able to go on to the show floor and to highlight those booths and ask them, 'What do you want to showcase?’ people were just very appreciative of us coming to their booths, showing off their booths and chatting with them. 2026 is the year of growth. 

IRE 2026 reinforced something we already know but never want to take for granted: this industry is built on people who show up for each other. Whether it was stepping into a new role, celebrating a milestone, reconnecting with old friends or creating space for new voices, IRE proved once again that roofing is a tight-knit, incredible community. 

And for our crew, it was an honor to be part of it. 

Check out our YouTube playlist for more insights from industry experts!

In this Coffee Conversations®, sponsored by QXO, Megan Ellsworth hosts a powerful discussion with women who are shaping the future of roofing. They will highlight the Female Roofing Professional of the Year Award — a recognition that honors outstanding leadership, innovation and mentorship among women in the roofing industry along with past and present National Women in Roofing (NWIR) leadership.  The panel shares insights on leadership, mentorship and building successful companies and organizations in a competitive field. From overcoming barriers to leveraging technology and strategic partnerships, this conversation offers practical takeaways and fresh inspiration for the entire roofing industry. 

Register today!

The Annual QXO for Veterans program honors Veterans and Gold Star Families with new roofs at no cost.

QXO Inc. (NYSE: QXO) today announced the 13 grand-prize winners of its annual QXO for Veterans initiative, a North American program that honors veterans, Gold Star Families and organizations that serve veterans by providing essential home improvements that restore security, dignity and peace of mind.

"As an army veteran myself, it's a privilege for the QXO team to honor the service of these 13 veterans and organizations by providing the security and protection of a new roof," said Damien Katzenmeyer, Vice President of Fleet and Logistics Management at QXO. “Our whole team appreciates the sacrifices these brave men and women made to defend our homes and freedom."

The 13 Veteran and Gold Star Family 2025 QXO for Veterans recipients are:

• Elmer G. – Brownsville, PA
• Gerald S. – Troutdale, OR
• Gregory P. – Ewing, NJ
• James C. – El Cajon, CA
• James W. – Statesville, NC
• Jared W. – Lewistown, PA
• Kenneth G. – Owasso, OK
• Scott H. – Cantonment, FL
• Sterling M. – Lafayette, LA
• Victor G. – Scandia, MN
• American Legion Post 175 – Durham, NC
• Legion Royale filiale 173 – Montreal, Québec
• National Veterans Homeless Support – Cocoa, FL

Now in its seventh year, the QXO for Veterans program is a key part of QXO’s broader commitment to support neighbors and strengthen communities. Since launching the program in 2018, QXO has installed over 60 roofs, partnering with local roofing contractors and suppliers across North America to give back to those who have served.

The 2025 QXO for Veterans nomination period for all military veterans in the U.S. and Canada, and Gold Star Family members, was open from Veterans Day, November 11, 2025, through December 17, 2025. A panel of judges including QXO executives and veterans, the publishers of Roofers Coffee Shop and Roofing Contractor, as well as executives from GAF and other organizations voted on all submissions. The 13 winners will each receive new roofs installed by local professionals using TRI-BUILT® products, QXO’s private label brand, and materials from GAF, the exclusive partner for the program.

To learn more about QXO for Veterans, view past winners and read the official program rules, see go.qxo.com/qxoforveterans.

About QXO

QXO is the fastest growing publicly traded distributor of building products in North America. The company is executing its strategy to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for its shareholders. QXO expects to achieve its target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

This acquisition is expected to be highly accretive to QXO’s earnings in 2026.

QXO, Inc. (NYSE: QXO) today announced it has entered into a definitive agreement to acquire Kodiak Building Partners (“Kodiak”) from Court Square Capital Partners for approximately $2.25 billion. The transaction is expected to be highly accretive to 2026 earnings and will expand QXO’s current addressable market to more than $200 billion. 

The purchase price comprises $2.0 billion of cash and 13.2 million shares, with QXO retaining the right to repurchase these shares at $40 per share. The transaction is expected to close early in the second quarter of 2026, subject to the satisfaction of customary closing conditions.

Kodiak generated approximately $2.4 billion of revenues in 2025 as a U.S. distributor of lumber, trusses, windows and doors, construction supplies, waterproofing, roofing and complementary exterior products, as well as value-added assembly, fabrication and installation services. The business is a market leader in most of its geographies, with concentrations in the Sun Belt and Mountain states. About 40% of Kodiak’s 2025 revenues were generated in Florida and Texas, where building market growth has consistently outpaced national market growth over the last decade.

Brad Jacobs, chairman and chief executive officer of QXO, said, “The acquisition of Kodiak is highly complementary to our existing business. We’ll be able to deliver more value to customers across our combined base by cross-selling products and support services, and with a greater presence in key markets. And we expect the integration to accelerate margin expansion through scaled procurement, network optimization, AI-powered inventory management and other tech-enabled operating efficiencies. Our acquisition pipeline remains very active, with plenty of dry powder from our recently announced equity financings led by Apollo and Temasek.” 

The integration of Kodiak’s structural and exterior construction product offerings with QXO’s existing range will better position QXO to grow both market share and wallet share with large homebuilders. This aligns with the company’s strategy to become a preferred supplier serving the full project lifecycle of large, multisite developments and master-planned communities.

Steve Swinney, co-founder and chief executive officer of Kodiak Building Partners, said, “QXO is the most exciting company in the industry. By joining forces, we’re moving from strength to strength to unlock new opportunities for our customers and employees. I want to thank our employees for building a high-quality business at Kodiak and for the value created over the past 15 years, including the last eight with Court Square. I look forward to an even more exciting future as part of QXO.”

Advisors

Morgan Stanley & Co. LLC and Wells Fargo are acting as financial advisors to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel. RBC Capital Markets and KeyBanc Capital Markets are serving as financial advisors to Kodiak, and Dechert LLP is acting as legal counsel. 

About QXO

QXO is the fastest growing publicly traded distributor of building products in North America. The company is executing its strategy to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for its shareholders. QXO expects to achieve its target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

About Kodiak Building Partners

Founded in 2011, Kodiak is a national distributor of essential building products, including lumber and components, trusses, windows and doors, construction supplies, waterproofing, roofing and complementary exterior materials. This product portfolio is supported by value-added services for assembly, fabrication and installation. Kodiak has approximately 5,500 employees across 110 locations in 26 states and serves over 10,000 customers, including contractors, subcontractors, remodelers, and residential, commercial and industrial builders. 

About Court Square Capital Partners

Court Square is a middle market private equity firm with over 40 years’ experience. Since 1979, Court Square has completed over 245 platform investments and is focused on helping Founders, Families and Manager-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. As of September 30, 2025, Court Square has $10.1 billion of assets under management and is based in New York, N.Y. For more information, please visit www.courtsquare.com.

Cautionary statement regarding forward-looking statements

This release contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the expected timing of the closing of the proposed acquisition, the anticipated benefits of the proposed acquisition and expected future financial position, total addressable market 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 proposed acquisition may not be completed on the anticipated terms in a timely manner or at all; (ii) the failure to satisfy any of the conditions to the consummation of the proposed acquisition; (iii) the effect of the pendency of the proposed acquisition on each of QXO’s and Kodiak’s business relationships with employees, customers or suppliers, or on operating results or business generally; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the agreement; (v) the possibility that the proposed acquisition may be more expensive to complete than anticipated, including as a result of unexpected factors or events, significant transaction costs or unknown liabilities; (vi) potential litigation and/or regulatory action relating to the proposed acquisition; (vii) the risk that the anticipated benefits of the proposed acquisition may not be fully realized or may take longer to realize than expected; (viii) the impacts of legislative, regulatory, economic, competitive or technological changes; (ix) unknown liabilities and uncertainties regarding general economic, market sector, competitive, legal, regulatory, tax and geopolitical conditions; and (x) those risks and uncertainties set forth in QXO’s SEC filings, including QXO’s Annual Report on Form 10-K for the year ended December 31, 2024.

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. 

Inspiring leadership stories, meaningful education, hands-on training and a powerful sense of community made NWIR Days 2026 an event to remember. 

Editor’s note: The following is a transcript of a conversation between the Coffee Shop crew about NWIR Days 2026. 

Karen Edwards: National Women in Roofing 2026 just ended, and it was an amazing day. It was a great event. I think one of my favorite parts about the day was the opening session where the four co-founders, Jennifer Ford Smith, Jenny Stone, Shari Carlozzi and Heidi J. Ellsworth shared the story of how the organization started and what they had to do to get things off the ground. And I would say probably 20% of the room were first timers, and so these are folks who've never heard that before, because they haven't been here the whole time. And the reason that that was the morning session was because National Women in Roofing is celebrating their 10-year anniversary since becoming incorporated as a 501 c6 in 2016, so it was amazing to see where it started and where it is now. And they really, really made the event great.  

You know it was interesting and exciting because it went by real fast. Another thing that I really enjoyed was Megan led a panel on building loyalty with your employees, and it was about how to help working parents and how you can support them and how you can make it easier for them. And that was a panel that had Jenny Stone, Cool Roof Rating Council’s Jeff Steuben and Kyra Coker from National Roofing Partners. And you know, we have a lot of young folks here that are becoming parents for the first time. And so understanding what are some things that we can do to support it was really valuable.  

And then, of course, the Skills Lab. You get to see the products, you get to try stuff out, you get to try welding. It was just a really, really well-rounded day. And you know, thank you to Christee Roberson for her leadership. And we're looking forward to Christine Mockenhaupt taking the reins for 2026. 

Lauren White: I agree, the day went by really quick. As for the breakout sessions, there were fewer of them, but they were longer, which was really nice because people could really get into having a conversation, asking questions, getting good advice and feedback from everybody else in the room. Last year it sometimes felt like we were rushed to get to the next session, but not this year.  

We had the awards during lunch. It was really fun to celebrate the Rising Stars and the WORLD Award winners. They did Council Awards again this year, and the councils are doing some really incredible things. And the WORLD Award winner for this year is Michelle Ly with Hallmark Roofing in Austin, Texas, and the Rising Star Award is Liz Garza with SRS Distribution, which was really fun to celebrate them.  

We had a really fun time at the Skills Lab. Dani and I did some heat welding and some pull tests. We write about all these companies and materials and products, and it was really fun to just feel them and touch them and work with them.  

Dani Sheehan: I agree. It was really well planned out. I really appreciated having the awards during lunch and being able to network through that and then also having the break in between sessions, just getting us up and moving was really great.  

I also think the Skills Lab was my favorite part. Just having so many hands-on demonstrations, the QXO challenge during the networking break was really fun to watch, and I think we were able to capture some great videoto see who could put down the ISO board the fastest. So that was really cool to see.  

And just again, being in this room where women are building each other up, and there's not competition, and we're just all here together, learning about roofing, being in this industry, creating this community. I lovedgetting to meet Kim with Division 7 Roofing and hang out with her. Mandy's session at the end was a great way to close everything out. Her session, Speaking Up, To Show Up: Building Confidence in Work and Life, was so great and it was great to feel the energy in that room. And I think she just helped us all get rid of that imposter syndrome that we all feel in the workplace.  

Camden Bennett: This is my first NWIR Day, and going into IRE it was really fun to see how much energy all the women exuded here, and how, even though some of our companies might be competitors, everyone was very friendly, and clearly wanted to know what others had to say.  

My first session was, Roofing is Like a Sandwich, Understanding the Basics with Lynn Picone and Kimberly Santiago-Vega with GAF and I got to see some of the technical errors that people make, and how to remedy those, and how even little mistakes can cause huge problems with roofing and can be quite costly, and then how to avoid those in the future. The Skills Lab was also my favorite. It's fun to be able to use the things that we are writing about, posting or promoting. As for the Speak Up session, it was interesting to see what other people had to say and have some good discussion. It was eye opening. 

Jessica Bravo: I attended Roofing 101, Covering the Basics with GAF. It was really informative, and Kimberly and Lynn are very knowledgeable. And like everyone said, Skills Lab was my favorite, watching Camden use the nail gun was really fun. And we ended the breakout sessions with Speak Up and Show Up with Mandy. Connecting with the NWIR Latina Council, Conexión Hispana, was also great. 

Record-breaking exhibitor numbers, expanded programming to compliment growing verticals and innovation define the 2026 event.

The International Roofing Expo, (IRE) the leading destination for residential and commercial roofing and exteriors professionals, concluded its largest edition to date. Thousands of craftsmen gathered for three days of product discovery, access to the newest technological advancements and design innovations, solidifying the event’s position as the ultimate hub for advancing the roofing and exteriors industry.

A record-breaking year for IRE

The 2026 edition of IRE set a new benchmark as the largest show in the event’s history, spanning more than 230,000 net square feet and featuring 700+ exhibitors. The event attracted a strong international audience, with attendees from Canada, Mexico, China, the United Kingdom, Brazil, Colombia and beyond, eager to gain insights into the North American roofing market, which holds a major share of global revenue.

Innovative exhibitors and first-time features

This year’s event welcomed over 180 new exhibiting companies, introducing groundbreaking products and solutions to meet the growing demand for roofing materials. The debut of the First Look Area showcased a curated selection of startups and emerging companies, including RAM Companies, Cool Roof Distribution, Roofs In A Box, Zuper and more. Returning industry leaders such as ABC Supply, GAF, QXO, Atlas Roofing Corporation, Owens Corning, SRS Distribution and Polyglass USA Inc. reaffirmed their commitment to innovation and excellence.

Empowering professionals through education

IRE 2026 delivered a robust educational program with over 165 sessions including conference, expo hall education and hands-on demonstrations, covering critical topics such as workplace safety, financial management, legal and regulatory compliance, leadership, business strategies, sales and service techniques, technical skills and sustainability. These sessions provided actionable insights to empower attendees with the tools needed for personal and professional growth.

The General Session panel brought together industry leaders from Roofing Contractor, BNP Media, the National Roofing Contractors Association (NRCA) and Adams and Reese LLP. Panelists including NRCA leadership and renowned legal expert Trent Cotney discussed the state of the roofing industry, offering perspectives on current challenges, future opportunities and the evolving market landscape.

Strengthening the roofing community

IRE continues to champion initiatives that foster inclusivity and community engagement within the roofing industry: The Hispanic Contractors Program, providing networking and educational opportunities to empower Hispanic professionals in the sector. Roofers in Recovery returned for its second year, contributing vital mental health resources and support to industry professionals. The 17th annual Community Service Day, sponsored by Sika, Atlas, Roofing Contractor, Centimark, Reliable Onsite Services, Western Elite, Farrell Roofing and in partnership with Rebuilding Together Southern Nevada, saw volunteers repair homes for local residents, with materials generously donated by GAF.

“This year’s International Roofing Expo was a testament to the strength and growth of the roofing and home improvement industry,” says Rich Russo, show director, International Roofing Expo. “With record-breaking exhibitor participation, new initiatives and a strong presence of decision-makers, IRE 2026 proved to be the centerpiece of the innovation and collaboration that drive this industry forward.”

Expanding the exteriors segment

The Pro Contractors Pavilion returned as a key feature on the show floor, serving as a dedicated space for collaboration between home improvement professionals and roofing contractors. This expansion fostered new business opportunities and strengthened industry partnerships.

“If you are in the roofing industry, IRE is a great place to make connections, meet new people and learn about new products. If you [have] a business and want to understand what your market is doing, it is a great place to check...out [the landscape], check out what your competition is up to and learn more,” remarks Danielle Wells, president, Progressive Materials.

Looking ahead to 2027

The International Roofing Expo will return to Las Vegas, February 16-18, 2027, at the Las Vegas Convention Center. For updates and information on next year’s event, visit www.theroofingexpo.com.

About International Roofing Expo

The International Roofing Expo® is the premier event for both the commercial and residential roofing and exterior construction industries. The IRE brings the professional community together to help them stay current on trending knowledge and to see the largest selection of products and services. The event helps professionals improve their business through education, exhibitions and networking. The International Roofing Expo is owned and operated by Informa Markets. The official show sponsor is NRCA and the official show publication is Roofing Contractor. For more information, please visit www.theroofingexpo.com.

About Informa Markets

Informa Markets, a subsidiary of Informa plc (LON:INF), creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio comprises more than 550 international B2B events and brands in markets including Engineering, Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world's leading exhibitions organizer, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, visit www.informamarkets.com.

By Heidi J. Ellsworth.

The book takes a look at an increased investment in the roofing industry, heralding a wave of innovation and growth.

I recently attended the launch party for Brad Jacobs’ newest book How to Make a Few More Billion Dollars, and I left the evening thinking less about the book itself and more about what his vision means for the roofing industry. 

Brad is the chairman and CEO of QXO, a company formed to transform building products distribution through scale, discipline and technology. QXO’s acquisition of Beacon Building Products signaled one of the most significant moves the roofing supply chain has seen in decades. For those of us who live and work in this industry, it was a moment that clearly said roofing is no longer flying under the radar of major capital markets. 

The evening opened with an introduction by Liz Claman, host of FOX Business Network’s The Claman Countdown, who framed Brad’s career as one built on seeing opportunity where others see complexity. That description resonated strongly with me because roofing has always been complex, fragmented and misunderstood by outsiders. Yet those very characteristics are exactly what make it attractive to someone with Jacobs’ background. 

Brad is widely known for building companies such as United Rentals, United Waste Systems and XPO Logistics. Across more than forty years he has repeatedly entered industries that lacked structure, modern systems and scale. His first book How to Make a Few Billion Dollars outlined the principles behind that success, particularly his disciplined approach to acquisitions and operational excellence. His newest book builds on that foundation and offers insight into how he evaluates markets before making a major move. 

What struck me most is how closely his criteria align with the realities of roofing. This is an industry that remains highly fragmented, where relationships matter deeply and where service reliability is critical. Roofing demand is steady because roofs are not discretionary purchases. When a roof fails it must be repaired. That reliability creates strong cash flow and long-term opportunity, especially when paired with better technology and data-driven decision making. 

Brad has also been clear about the opportunity to bring modernization into traditional industries. From my perspective that is where roofing stands today. Contractors and suppliers are embracing digital ordering, pricing intelligence, logistics optimization and AI-driven tools faster than ever before. The entrance of a company like QXO accelerates that evolution and pushes the entire industry to think differently about efficiency, customer experience and scale. 

Throughout the evening I had the opportunity to speak with media, private equity leaders, bankers and industry professionals. Again and again the conversation returned to roofing. That alone was notable. Roofing is often overlooked despite being essential to every structure we build and protect. Seeing it become a focal point of national business discussions reinforced how important our industry truly is. 

The launch of How to Make a Few More Billion Dollars was more than a celebration of a new book. For me it underscored a turning point. When leaders like Brad invest at this level, it validates what roofing professionals have always known. This industry is resilient, necessary and full of opportunity for those willing to invest in people, process and technology. 

As someone who has spent more than two decades supporting contractors and suppliers through The Coffee Shops, I see this moment as both exciting and challenging. Increased investment brings innovation and growth but it also raises the bar. Roofing companies will be asked to operate more strategically, communicate more professionally and think more intentionally about their businesses. 

That is not a bad thing. In fact, it may be exactly what propels roofing into its next era. 

Apollo and Temasek lead expanded capital commitment to fund future acquisitions.

QXO, Inc. (NYSE: QXO) (the “Company” or “QXO”) today announced a $1.8 billion increase to its previously announced $1.2 billion financing led by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”), bringing the total investment in QXO to $3 billion. Apollo, Temasek and certain other investors have agreed to make the investment through the previously disclosed series of convertible perpetual preferred stock (the “Series C Preferred Stock”). The investment further strengthens QXO’s financial flexibility to pursue strategic acquisition opportunities.

Under the investment agreement, the investors have committed to purchase Series C Preferred Stock to fund one or more qualifying acquisitions through July 15, 2026. This commitment will be extended for up to an additional 12 months if a definitive acquisition agreement is executed before the initial commitment period expires. Any issuance of the Series C Preferred Stock will close at or around the closing of the qualifying acquisition(s).

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering. The securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be reoffered or resold in the United States except through an effective registration statement or an applicable exemption from the registration requirements. The Company has agreed to use commercially reasonable efforts to file a prospectus supplement with the Securities and Exchange Commission (“SEC”) to register the resale of the Series C Preferred Stock and underlying common stock issuable upon conversion.

This press release is issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About QXO

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

The investment further strengthens QXO’s financial flexibility in pursuing acquisition opportunities.

QXO, Inc. (NYSE: QXO) (the “Company” or “QXO”) today announced that funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”) and certain other investors have agreed to invest $1.2 billion in QXO through a new series of convertible perpetual preferred stock. The investment further strengthens QXO’s financial flexibility in pursuing acquisition opportunities.

Under the investment agreement, the investors have committed to purchase the new convertible preferred stock to fund one or more qualifying acquisitions through July 15, 2026. This commitment will be extended up to an additional 12 months if a definitive acquisition agreement is executed before the initial commitment period expires. Any issuance of the new convertible preferred stock will close at or around the time of the closing of the qualifying acquisition(s).

The new convertible preferred stock is perpetual, will pay a preferred dividend rate of 4.75% per annum, and can be converted into shares of the Company’s common stock at an initial conversion price of $23.25 per share.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be reoffered or resold in the United States except through an effective registration statement or an applicable exemption from the registration requirements. The company has agreed to use commercially reasonable efforts to file a prospectus supplement with the Securities and Exchange Commission (“SEC”) to register the resale of the new convertible preferred stock and underlying common stock issuable upon conversion following the issuance of the new convertible preferred stock.

This press release is issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About QXO

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. 

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com

Will Remain chairman and chief executive officer of QXO.

Brad Jacobs, Chairman and CEO of QXO, Inc. (NYSE: QXO), today announced he will step down from his chairman roles at XPO, Inc. (NYSE: XPO) and GXO Logistics, Inc. (NYSE: GXO), effective December 31, 2025. Jacobs will serve as senior advisor to XPO through June 30, 2026.

“By transitioning out of my board positions at XPO and GXO, I can dedicate even more energy to QXO and Jacobs Private Equity. We intend to grow QXO into a $50 billion revenue leader in building products distribution through accretive acquisitions and organic growth,” Jacobs said. “XPO and GXO are in excellent shape and their prospects are very bright.”

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

About Jacobs Private Equity

Jacobs Private Equity, LLC, the personal investment firm of Brad Jacobs, invests substantial equity capital in companies positioned to create exceptional value. Visit JPE.com for more information. 

Cautionary statement regarding forward-looking statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “intend,” “target,” “believe” or other comparable terminology. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. QXO undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.