We advised the lead arrangers and agent on the term loan B acquisition financing

Davis Polk advised the administrative agent, joint lead arrangers and joint bookrunners in connection with a $2.25 billion senior secured first-lien term loan facility provided to an affiliate of QXO, Inc. for its acquisition of Beacon Roofing Supply, Inc.

QXO plans to become the leader in the $800 billion building products distribution industry. The company is targeting annual revenue of $50 billion in the coming decade through accretive acquisitions and organic growth. QXO acquired Beacon this week in a transaction that valued Beacon at $10.6 billion, making QXO the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States.

Founded in 1928, Beacon (now known as QXO) specializes in the distribution of roofing and complementary building products, including siding and waterproofing. The company operates over 580 branches throughout all 50 states in the U.S. and seven provinces in Canada.

The Davis Polk finance team included partners Jason Kyrwood and Scott M. Herrig, counsel Ruben N. Henriquez, Esam (Esamadeen) Ibrahim and Randall (Randy) Dorf and associates Hye-Jin Kim and Blair Shi. The capital markets team included partner Michael Kaplan and associate David (Wei Fu) Li. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office.

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