Apr 30, 2025·Apr 29, 2025
QXO, Inc. has completed its acquisition of Beacon Roofing Supply, which is now operating under the name QXO Building Products, Inc. The transaction finalized with QXO Building Products becoming a wholly-owned subsidiary of QXO.
The acquisition was financed, in part, by significant new debt placed on the acquired entity's balance sheet. This includes $2.25 billion of 6.75% Senior Secured Notes due 2032, a $2.25 billion New Term Loan Facility due April 30, 2032, and an Asset-Based Revolving Credit Facility with $2 billion available, under which $400 million was initially drawn. Concurrently, the company repaid existing term loans and credit commitments and redeemed all outstanding notes, including $300 million of 4.5% notes due 2026, $350 million of 4.125% notes due 2029, and $600 million of 6.5% notes due 2030. As a result of the merger, all previous directors and officers ceased their roles and were replaced by designees from Merger Sub. The company's shares have been delisted from the Nasdaq Global Select Market, and the company intends to deregister its securities, ceasing public reporting.
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