All articles tagged with #brad jacobs
Serial deal maker Brad Jacobs, executive chairman of XPO, is launching a new tech-focused company called QXO, which aims to acquire businesses in the building-products distribution industry. QXO will focus on distributing products such as lumber, doors, windows, and landscaping supplies. Jacobs has a track record of building multibillion-dollar companies through acquisitions in various sectors.
Brad Jacobs, founder of XPO Logistics, is launching a publicly listed company with $1 billion in funding, mostly from himself, for multiple acquisitions. Jacobs has not disclosed the specific industry he plans to target but mentioned industrial services as a potential area where technology can provide a competitive advantage. The new company will be majority-owned by Jacobs Private Equity II, which will acquire software seller SilverSun Technologies Inc. Jacobs aims to create a large company with sales exceeding $20 billion and plans to hire top talent. He believes the key to success will be finding businesses that can benefit from artificial intelligence rather than being replaced by it.
Brad Jacobs, the executive chairman of XPO and nonexecutive chairman of GXO and RXO, is leading a $1 billion investment in SilverSun Technologies, a publicly traded software company. The investment will be made through Jacobs' investment vehicle, Jacobs Private Equity (JPE), with JPE investing $900 million and other investors contributing $100 million. The existing business of SilverSun will be spun off into a stand-alone operation, while the remaining publicly traded company will serve as a platform for future acquisitions in an undisclosed industry. After the spinoff, Jacobs will become the CEO and chairman of the remaining company.