XPO Logistics Completes Equity
Investment of up to $150 Million
Bradley Jacobs becomes Chairman and CEO of former
Express-1 Expedited Solutions
Mich. — September 02, 2011 —
XPO Logistics, Inc. (NYSE Amex: XPO)
(“Company”) today completed the previously announced
equity investment led by Jacobs Private Equity, LLC. Under the
terms of the transaction, Jacobs Private Equity and minority
co-investors will invest an aggregate of up to $150 million in
cash in the Company, including an investment by Jacobs Private
Equity of up to $135 million, in each case including amounts
payable upon exercise of warrants.
Bradley Jacobs, managing director of Jacobs Private Equity, became
the chairman of the Company’s new board of directors, which
is comprised of G. Chris Andersen, Michael Jesselson, Adrian
Kingshott, James Martell, Jason Papastavrou and Oren Shaffer.
Jacobs will also serve as chief executive officer.