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QXO has reached two milestones, including concluding a major investment round and naming its senior management team.

In December, Wall Street investor Brad Jacobs launched QXO Inc. as a digital technology company with plans to build and acquire distribution companies. Jacobs says he is targeting the highly fragmented $800 billion building products distribution market in North America and Europe.

So far, the company has reached two milestones, including concluding a major investment round and naming its senior management team.

The company changed its name from SilverSun Technologies Inc. to QXO Inc. and raised $1 billion in funding.

QXO’s CEO

Jacobs — who says he has completed approximately 500 merger and acquisition deals in his career, and built five multibillion-dollar, publicly traded companies — is putting in $900 million through Jacobs Private Equity III Llc to capitalize QXO, while other investors, including Sequoia Heritage, are contributing the remainder of the capital.

As a result of his investment, Jacobs is now CEO of QXO.

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QXO follows several other companies Jacobs has been involved in launching. Among them are:

  • XPO Inc., one of the largest providers of truckload services in North America, where he is executive chairman
  • GXO Logistics Inc., a global contract logistics provider using “data-driven processes, intelligent automation and machine learning” technology
  • RXO Inc., a technology-enabled freight brokerage platform
  • United Rentals Inc., a big equipment rental company
  • United Waste Systems Inc., a large waste management company that was later sold

Jacobs says he expects QXO to achieve revenue of at least $1 billion in its first year of business and $5 billion within three years. To hit those numbers, the company says it will focus heavily on digital technology — and B2B ecommerce.

QXO’s management team hires

QXO also announced the other key appointments to its management team including:

  • Josephine Berisha, chief human resources officer. Berisha has more than two decades of senior human resource experience with global companies. She previously served as chief human resources officer for XPO.
  • Joe Checkler, senior vice president, communications. Checkler most recently served as vice president of communications for XPO, Inc., where he led the corporate and investor communications organization from 2018 to 2022.
  • Matt Fassler, chief strategy officer. Fassler was chief strategy officer of XPO from 2018 through 2022 during the company’s strategic transformation in North America, and currently serves as a member of the board of directors of GXO Logistics, Inc., which was spun off from XPO.
  • Austin Landow, executive vice president. Landow is managing director of Jacobs Private Equity with responsibility for leading strategic projects. He joined XPO from 2019 to 2023.
  • Mark Manduca, chief investment officer. Manduca previously served as chief investment officer of GXO Logistics from 2021 to 2023, with responsibility for managing relationships within the investment community.
  • Eduardo Pelleissone, chief transformation officer. Pelleissone most recently led operations in the Americas and Asia Pacific for GXO Logistics from 2021 to 2024, after serving as chief transformation officer for GXO’s parent company, XPO.
  • Chris Signorello, chief legal officer. Signorello previously served in senior legal roles with XPO, most recently as deputy general counsel and chief compliance officer from 2021 to 2023.
  • Sean Smith, chief accounting officer and deputy chief financial officer. Smith has more than two decades of senior financial experience across multiple industries. From 2019 to 2024, he served as corporate controller for Chewy Inc., a leading ecommerce retailer of pet supplies and medications.

“I have known these leaders for many years and have great confidence in their ability to grow QXO into a tech-forward leader in building products distribution,” Jacobs says.

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