Jacobs’ ‘playbook’ will target new industry, to be determined

Billionaire entrepreneur Brad Jacobs, who launched LTL carrier XPO and its later spinoffs, is turning to what he calls his “playbook” once again to seek out opportunities in a different sector.

The sector? We don’t know yet and he’s not saying.

In an eventful Monday morning for Jacobs, the current founder and CEO of building supplies provider QXO, which has been established in the past few years also through the playbook, said he and a minority shareholder were acquiring a small publicly-traded company with various natural resources assets and injecting it with $1 billion in capital.

That announcement early Monday came alongside the quarterly earnings of QXO. While the company’s stock has struggled in recent months, reaching 52-week lows several times, at approximately 2:10 p.m. it was up $2.38, or 20.59%, to $13.94.

This story was originally published by FreightWaves. Read the full story at FreightWaves →