Adds details and background throughout

Jan 5 (Reuters) - QXO QXO.N on Monday said Apollo Global Management APO.N and other investors have agreed to invest $1.2 billion in the firm led by billionaire Brad Jacobs-backed to support its acquisition pursuits.

Shares of the building-products distributor were up more than 8% in premarket trade.

QXO must use the financing to fund one or more acquisitions by July 15, the companies said.

Dealmaking activity in the U.S. building-products industry has accelerated as companies seek scale and local supply chains to offset tariffs, with demand supported by new housing, repair and renovation, and non-residential construction.

Last year, Commercial Metals CMC.N said it would acquire concrete supplier Foley Products for $1.84 billion, while roofing-material firm TopBuild BLD.N bought rival SPI for $1 billion in cash.

QXO's funding involves a new series of convertible perpetual preferred stock, with an initial conversion price of $23.25 per share, about 18% above its Friday close.

The company's CEO, Brad Jacobs, is often touted as an M&A guru, having built multibillion-dollar firms in logistics, waste management and equipment rentals.

The roofing, waterproofing and complementary building products distributor tried buying peer GMS for $5 billion in a hostile bid last year, which was ultimately sold to Home Depot HD.N.

QXO, however, closed its $11 billion deal for Beacon Roofing Supply last year in April.

Jacobs stepped down as chairman at XPO XPO.N and GXO Logistics GXO.N in December.

(Reporting by Anshuman Tripathy in Bengaluru, additional reporting by Arasu Kannagi Basil; Editing by Vijay Kishore)

((Anshuman.Tripathy@thomsonreuters.com;))