QXO secures additional $1.8 billion in financing led by Apollo, Temasek
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QXO has secured an additional $1.8 billion in financing led by Apollo Global Management and Temasek, raising total investment to $3 billion. The funding, structured as convertible perpetual preferred stock, will support future acquisitions in the U.S. building-products industry, which is experiencing increased M&A activity. QXO aims for $50 billion in annual revenues within a decade, following its recent $11 billion acquisition of Beacon Roofing Supply. Shares rose about 1% in premarket trading.
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