Jason Hall

John, no, this is an acquisition.

Let's make no bones about that whatsoever.

For those that haven't followed the QXO story, this is really, and I'm a shareholder here, and the reason I'm a shareholder is I want to invest along with CEO Brad Jacobs.

This is one of the greatest value creators for investors in his companies in history.

He's founded something like eight different companies that reached a value of at least $1 billion.

A few of those, United Waste, which was acquired, and XPO Logistics and United Rentals, which are still public, were massive winners for shareholders.

With QXO, we're expecting the Jacobs playbook to work again in a different industry.

The playbook is, take an industry that has

dozens to hundreds of players, acquire a bunch of them at reasonable prices, consolidate them together where it makes sense, and then apply a layer of technology to those businesses to drive efficiencies and process improvements.

Repeat that playbook and be very disciplined and do it for many years, and a lot of people are going to make a lot of money.

Yeah, I think that's right.

Top Build, I followed it for a while.

They're an excellent, excellent operator.

Our good friend Lou Whiteman and I were in a text group, and we've been chatting a little bit about this.

He really stressed that.

Lou is maybe the biggest Brad Jacobs fan of anybody at The Fool.

He's followed him and invested with him for a long time.

Finding maybe an even better operator than Jacobs is pretty special.

The other thing, though, is that Top Build is in a niche, but pretty big

industry, the installation distribution business, but they also have a big installation business as well.