Our team is built around hard work, dedication, sacrifice and self belief. A major wager Jacobs' bet is big and, in the eyes of many, unprecedented. View Bradley S. Jacobs, Chairman and Chief Executive Officer at XPO Logistics, Inc., Greenwich, CT, executive profile on Equilar Atlas to see current salary at XPO. Learn about Brad Jacobs: his birthday, what he did before fame, his family life, fun trivia facts, popularity rankings, and more. URI , which he founded in , and United Waste Systems, Inc. As Jacobs entered high school, he entered competitive curling and took it seriously.
Comment Combine a successful entrepreneur and businessman, an industry ripe for consolidation, and a cluster of small businesses that may be ready to sell out at the right price, and, if nothing else, it could create the most compelling stew of activity the U. Stirring the pot will be year-old Bradley S. Jacobs, a balding, bespectacled Providence, R.
Jacobs may lack the visibility of such buy-out artists as Carl C. Icahn and William A. Ackman, but he has prospered greatly in his own right by starting and running businesses in three other industries: He renamed the company XPO Logistics and installed himself as CEO.
In addition, Jacobs projected that XPO would make five to seven brokerage acquisitions a year. XPO had not made any acquisitions as of this writing, though Jacobs said in other interviews that he has talked to about potential acquirees. However, the bulk of his efforts will be focused on truck brokerage. A major wager Jacobs' bet is big and, in the eyes of many, unprecedented.
Clowdis said there might be a large block of owners willing to sell to XPO, but only at an appropriate multiple of earnings that meets their exit requirements. Then there's the competition.
Besides the established companies like C. XPO could also face competition from the executives of the companies it buys out unless the sellers sign ironclad non-compete contracts, Clowdis said. Beyond the buyouts and the cold starts, XPO's success will hinge on everyday execution, namely the ability to maintain and strengthen relationships with shippers and carriers, and to develop a solid IT network that extends real-time visibility to all of its customers and service providers.
XPO plans to have one IT brad jacobs biography extending across its brokerage, freight forwarding, and expedited transport businesses.
Jacobs recognizes that potholes lie ahead. For example, the marketplace may not welcome a potentially disruptive player to the game, and the capital may not be healthy enough to support XPO's funding needs. The stock price fell steadily through November, though it had recovered some of its losses by the middle of December. XPO's executive team includes Greg Ritter, who built the brokerage business of truckload giant Knight Transportation after spending 22 years at C.
Metzler and Thomas Connolly, who combined have decades of mergers and acquisitions experience in the transportation and finance fields, respectively. Perhaps the sector's strongest brad jacobs biography to an entrepreneur like Jacobs is its extreme fragmentation. Many truck brokers, though successful, remain small because they lack the brad jacobs biography capital to fund a meaningful expansion.
Jacobs said the number of small brokers fighting for market brad jacobs biography means the brokerage business is "just begging to be consolidated.
For years, it has grown two to three times faster than annualized gross domestic product, and it continues to do so. Jacobs figures broker services will remain in demand as many small to mid-sized shippers that lack dedicated shipping departments increasingly turn to third parties to help them find the best deals from the approximatelybrad jacobs biography companies that ply the nation's roads.
He contends that, over time, XPO and others will find themselves competing for a larger pie than what exists today. Jacobs followed this approach in growing his four prior companies, and he is not about to stop with XPO. A long entrepreneurial history At mid-life, Jacobs is poised for what could end up brad jacobs biography the biggest of his many paydays. At 23, Jacobs co-founded Amerex Oil Associates Inc.
The next year, he moved to England and founded Hamilton Resources UK Ltd. Inhe founded United Waste Systems, Inc.3.2016
Inhe founded United Rentals Inc. Jacobs said his brad jacobs biography endeavors required significant transportation and supply chain experience, the ability to meld acquisitions and organic expansion, and a mastery of information technology to connect multiple offices in disparate locations across a single network.
Those skills will be heavily utilized as he goes where few in the transportation field have gone before. Ben Gordon, managing director of BG Strategic Advisors, a Palm Beach, Fla.