Lou Whiteman

I've heard multiple reasons, predictions about why it was doomed over the years.

So far, none of them have come true.

So, Dan, I got to talk about logistics earlier, and now I'm going to double down, press my luck, and talk about building supplies.

The company is QXO, ticker QXO, easy to remember, formed by serial entrepreneur Brad Jacobs to roll up the building products industry.

So, this week, they did their second deal.

They bought something called Kodiak for $2.25 billion, and I really like this deal.

Kodiak diversifies the product line, adds more than 100 locations, mostly in high-growth states.

QXO is getting the business at less than one-time sales, just 10X EBITDA.

Factor in expected cost cuts, and it's closer to 7X EBITDA.

This is textbook Jacobs.

He built United Waste, United Rentals, and XBO, some of the best performing, all top 10 performing Fortune 500 companies over the past decade.

QXO stock was up 15% plus on the announcement, which you'd never see for an acquirer.

I expect more deals to come.

This is a formula that's worked really well for Jacobs and shareholders.

The machine is up and running.

I'm really excited to watch it.

That's his kryptonite.

He can't name companies, unfortunately.

I think the answer is yes and no.

I think some historical context is needed here.