Brad Jacobs-led QXO Inc is closing in on its next major acquisition, just months after a massive $11 billion purchase of Beacon. The firm now has roughly $10 billion in available capital following an upsized $3 billion funding round. People familiar with the matter say a deal could be announced within weeks or months.

The company is currently in late-stage discussions with seven different takeover targets. These potential deals range from mid-sized businesses with $1 billion in revenue to transformational transactions exceeding $5 billion. Several of the targets are private, family-owned operations located in both the U.S. and Europe.

QXO has a deadline to complete at least one acquisition by July 15, 2026, a condition of the recent financing. The firm is already preparing to digest a second or even third deal. Analysts believe the M&A pipeline is the biggest driver for the stock, noting that larger acquisitions will help compress QXO's valuation.