Dechert has served as legal counsel to Court Square Capital Partners and Kodiak Building Partners in a definitive agreement for the sale of Kodiak to QXO, Inc. The transaction is valued at approximately $2.25 billion. According to the terms of the deal, QXO will pay $2 billion in cash and issue 13.2 million shares, while retaining the option to repurchase these shares at $40 each. The transaction is expected to close in early second quarter of 2026, pending customary closing conditions.
The acquisition is projected to significantly boost QXO’s earnings in 2026 and increase its total addressable market beyond $200 billion.
Court Square Capital Partners has more than four decades of experience investing in middle market private equity. Kodiak Building Partners distributes essential building materials across the United States, including lumber, trusses, windows, doors, roofing supplies, and related products. QXO is described as one of North America’s fastest-growing public companies in building product distribution.
The Dechert team was led by corporate partners Eric Siegel and Stephanie Haas with support from associates Callie Maslowsky and Erin Wilson. Additional expertise came from tax partner David Passey and associate Ishani Kundu; employee benefits partner Howard Klein and associate Michael Binko; and global finance partner Soo-ah Nah.
“Dechert is the law firm that helps business leaders lead,” according to a statement from the firm. “For more than 150 years, we have advised clients on critical issues — from high-stakes litigation to first-in-market transaction structures and complex regulatory matters. Our lawyers in commercial centers worldwide are immersed in the key sectors we serve – financial services, private capital, real estate, life sciences and technology.”
“Dechert delivers unwavering partnership so our clients can achieve unprecedented results,” the statement added.