Lucosky Brookman Closes $1 Billion Equity Transaction on Behalf of Client, SilverSun Technologies, Inc.
WOODBRIDGE, N.J., June 6, 2024 – Lucosky Brookman LLP, a leading corporate and litigation law firm, is pleased to announce that Jacobs Private Equity II, LLC and certain minority co-investors completed an equity investment in Lucosky Brookman client SilverSun Technologies, Inc. Under the terms of the transaction, an aggregate of $1 Billion in cash has been invested in the Company, comprised of $900 Million by JPE and $100 Million by the co-investors, including Sequoia Heritage.
Silversun Technologies, Inc. was a client of Lucosky Brookman for over 13 years before the company asked the firm to spearhead this transactions. The transaction is a shining example of a microcap reverse merger. It showcases the exceptional work of Lucosky Brookman LLP; Wachtell, Lipton, Rosen & Katz LLP; Paul, Weiss, Rifkind, Wharton & Garrison LLP; Goldman Sachs; Morgan Stanley; and The Benchmark Company – all of which were instrumental in navigating this complex deal.
“We are incredibly proud to have represented SilverSun Technologies in this landmark $1 billion transaction,” said Joseph Lucosky, Managing Partner of Lucosky Brookman LLP. “This milestone marks the culmination of over 13 years of dedicated advocacy and unwavering support. This transaction is a testament to the hard work and dedication of all parties involved, especially the Lucosky Brookman attorneys who have worked tirelessly on behalf of the company for over a decade. Their perseverance, creativity, and passion have culminated in this significant achievement. Congratulations to Mark Meller and the entire SilverSun board for their vision and tenacity.”
This successful transaction highlights collaborative efforts and relentless determination. The journey to finalize this deal was marked by numerous twists and turns, requiring persistent efforts and innovative strategies. “Despite the complexities and challenges, our team demonstrated unwavering commitment, resilience, and creativity throughout the process,” said Joseph Lucosky. “We take immense pride in having worked closely with all parties involved to achieve this significant milestone, reflecting the passion and dedication that defines our approach to serving our clients. This achievement is not just a testament to our firm’s capabilities but also a celebration of the strong relationships and trust we have built with our clients over the years.”
Under the terms of the transaction, the Company changed its name from SilverSun Technologies, Inc. to QXO, Inc. and changed its ticker symbol on the NASDAQ Capital Market from SSNT to QXO. In connection with the closing of the equity investment, Brad Jacobs became QXO’s chairman and CEO and will lead the Company in the $800 billion building products distribution industry. QXO is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth.
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Lucosky Brookman is a corporate and litigation law firm headquartered in the New York metropolitan area with offices and attorneys across the country, representing both domestic and international clients in sophisticated corporate and securities transactions, mergers and acquisitions, secured and unsecured lending transactions, PIPEs, general corporate matters, complex commercial litigation, securities litigation, white collar and regulatory matters, and insurance coverage and defense matters. Lucosky Brookman provides a broad range of legal services within each of its corporate, securities, mergers & acquisitions, tax, banking & finance, litigation & arbitration, white collar & regulatory, insurance coverage & defense, employment, and intellectual property practice areas.
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Lucosky Brookman LLP