Brad Jacobs to Enter Building Products Distribution Industry
Will launch QXO with tech-forward strategy in large and growing industry rich with acquisition opportunities; sets revenue run-rate targets of at least $1 billion by end of year one, at least $5 billion within three years and tens of billions of dollars over next decade
After a comprehensive year-long search, Brad Jacobs has announced his intention to create a market leader in building products distribution — an industry with approximately $800 billion in annual revenue between North America and Europe, according to industry estimates. The company will be called QXO, Inc.
“QXO’s strategy is to create a tech-forward leader in the building products distribution industry through accretive M&A and organic growth, including greenfield openings, with the goal of generating outsized stockholder value,” Jacobs said. Jacobs will become chairman and chief executive officer of QXO upon closing a $1 billion cash investment into SilverSun Technologies, Inc. After spinning off the existing SilverSun business, the remaining company, QXO, will be a standalone platform for significant acquisitions.
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