QXO, Inc., previously known as SilverSun Technologies Inc (NASDAQ:SSNT), surged on Thursday after the company successfully completed a $1 billion equity investment as per the terms of the Amended and Restated Investment Agreement dated April 14, 2024. This transaction involved Jacobs Private Equity II, LLC ("JPE") and several minority co-investors, including Sequoia Heritage. JPE invested $900 million, while the co-investors contributed $100 million.
The company announced the appointment of eight executives and six board of directors members.
The newly appointed executives include Josephine Berisha as Chief Human Resources Officer, Joe Checkler as Senior Vice President of Communications, Matt Fassler as Chief Strategy Officer, Austin Landow as Executive Vice President, Mark Manduca as Chief Investment Officer, Eduardo Pelleissone as Chief Transformation Officer, Chris Signorello as Chief Legal Officer, and Sean Smith as Chief Accounting Officer and Deputy Chief Financial Officer. These individuals bring a wealth of experience from various industries, including their roles in three of Jacobs’ previous public companies.
The board of directors will include Brad Jacobs as Chairman, Jason Aiken, Marlene Colucci, Mario Harik, Mary Kissel, and Allison Landry. These board members have diverse backgrounds, ranging from executive roles at multinational corporations to policy advisory roles at the U.S. Department of State.
Additional leadership appointments, including the Chief Technology Officer, and potential additional board members, will be announced in the future.
Brad Jacobs said, “I’ve 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. We have a world-class executive team pursuing shareholder value out of the gate!”