QXO has made an offer to acquire roofing products and other building materials distributor Beacon Roofing Supply, according to a Wall Street Journal report that cited people familiar with the matter.

Herndon, VA-based Beacon — No. 5 on MDM’S Top Distributors List for Building Materials/Construction — has a market value of approximately $6.2 billion, with its share price up 14% this year. The company reported 2023 total revenue of $9.3 billion.

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The people familiar with the matter told the WSJ that a deal could be finalized by the end of the year, though negotiations could still collapse. The terms of the offer were not disclosed.

QXO told MDM that it is not commenting on the matter.

Greenwich, CT-based QXO has a market value of about $6.5 billion and is led by Brad Jacobs, a serial entrepreneur known for building multibillion-dollar companies through acquisitions.

In September, QXO reportedly offered to buy electrical supplies distributor Rexel for $9.4 billion, which Rexel turned down. QXO is no longer pursuing Rexel, the “people” told WSJ.

QXO officially launched in December 2023 when Jacobs Private Equity and co-investors made a $1 billion investment in an existing entity called SilverSun Technologies. In July, the company raised an additional $4.12 billion through two private placements, giving the company roughly $5 billion in cash and no debt.

On Nov. 7, QXO appointed Ashwin Rao as its Chief AI Officer.