Jacobs Private Equity, LLC was formed to make a substantial equity investment in a company with the potential for exceptional value creation under the leadership of Bradley S. Jacobs. On September 2, 2011, Jacobs Private Equity completed an equity investment in XPO Logistics, Inc. (NYSE: XPO) and Mr. Jacobs became the chairman of the board of directors. He also serves as the company's chief executive officer.
XPO Logistics (formerly Express-1 Expedited Solutions, Inc.) is the largest North American provider of last-mile logistics for heavy goods, the largest manager of expedited shipments, the third largest provider of intermodal services, the largest provider of cross-border Mexico intermodal services, and the fourth largest freight brokerage firm. On July 29, 2014, the company signed a definitive agreement to purchase New Breed Logistics, the preeminent provider of highly engineered contract logistics in North America. XPO Logistics serves over 14,000 customers and facilitates more than 31,000 deliveries a day.
Prior to XPO, Mr. Jacobs founded and led four highly successful companies and built each into a billion dollar or multi-billion dollar enterprise, including two publicly traded corporations.
In 1997, Mr. Jacobs co-founded United Rentals, Inc. (NYSE: URI) to capitalize on the early-stage consolidation opportunities in the construction equipment rental industry in North America. Under his direction, United Rentals became the world's largest equipment rental company in just 13 months, with a brand globally recognized for its quality of operations and depth of resources.
In the ten years that Mr. Jacobs ran United Rentals, the company achieved $3.9 billion in revenue and $1.2 billion in EBITDA, with more than 700 branches, 13,000 employees, and a ranking as the 536th largest public corporation in America by Fortune magazine. In the process, he led teams that executed approximately 500 acquisitions and 250 cold-starts, including the $1.2 billion acquisition of US Rentals, the world's second largest equipment rental company at the time. United Rentals stock outperformed the S&P 500 Index by 2.2 times.
In 1989, Mr. Jacobs founded United Waste Systems, Inc. During his eight years as chairman and chief executive officer, he built the company into the fifth largest solid waste management business in North America. United Waste Systems generated pre-tax margins that were among the highest in its industry. Its stock outperformed the S&P 500 Index by 5.6 times and delivered a 55% compound annual rate of return from IPO until the company was sold for $2.5 billion in 1997. At the time of sale, the company was a highly integrated organization of 40 landfills, 86 collection companies and 79 transfer and recycling stations in 25 states.
In 1984, Mr. Jacobs founded Hamilton Resources (UK) Ltd., a worldwide oil trading company, and served as its chairman and chief operating officer through 1989. During that time, he grew the company to annual revenues of approximately $1 billion through the execution of numerous large contracts with major oil companies and oil-producing countries and complex countertrade transactions.
In 1979, Mr. Jacobs co-founded Amerex Oil Associates, Inc. and served as its chief executive until the company was sold in 1983. Mr. Jacobs led the team that grew Amerex from a concept into one of the world's largest oil brokerage firms, with an annual gross contract volume of approximately $4.7 billion and offices in Houston, London, Tokyo and New Jersey. He oversaw all aspects of the business, including brokerage activities for refined petroleum products, residual fuels and energy futures, and personally directed all brokerage operations for international and domestic crude oil.
Mr. Jacobs has raised over $7 billion of debt and equity capital over the course of his career, including two IPOs. He maintains strong relationships with leading investment banks and buy-side institutions. Mr. Jacobs is an inductee of the American Rental Association Hall of Fame and a member of the board of directors of the Beck Institute for Cognitive Behavior Therapy.