“What attracted us so much to Turbo was they are a great company with great management and great customer relationships across the country,” Jacobs said. “They have been around for 28 years and, most importantly, they are a scalable business that can be grown substantially.”
XPO’s main building resides on Lillard Drive in Sparks and currently houses 16 employees. Jacobs said the purchase of Turbo Logistics will allow them to shop for a location to house about 50 people, which likely will be made up of recent college graduates.
“We are looking for more salespeople to help build the company to three times what it is currently. If we can get about 50 people working in Reno and Sparks that will not be an ending point, that will be a resting point,” Jacobs said. “There are some 20,000 students right there on fertile ground to help us grow. They will be able to earn between $30,000 and $40,000 a year and up to three times that with commission on sales. We will be able to get more customer relations, revenue and business growth in Nevada.”
Jacobs said salespeople who come on to work for XPO do not need to know the logistics business. He said a positive attitude and determination are better characteristics for entry level sales staff than a firm knowledge of the business.
“We tend to look for locations with a high student population within driving distance, so Sparks and Reno are perfect for us,” he said. “You don’t have to know the logistics business, we will teach that to you when you get here. We are looking for the people with strong self confidence and those who are ambitious to grow.”
The newly acquired Sparks branch is the second largest of the four branch locations of Turbo Logistics, which includes locations in Georgia, Chicago and Texas. Jacobs said XPO is traded on the New York Stock Exchange and has about $260 million in the bank. That money, according to Jacobs, will be used to fuel the company’s continual expansion plans.
“The company set out goals at the beginning of the year and we are on track with every goal and ahead in other ones. The acquisition of Turbo Logistics is a huge milestone for us,” Jacobs said. “We took over XPO 14 months ago and we have grown nearly threefold on a run-rate basis. We recently opened the national headquarters in Charlotte, N.C. which began with zero employees and now has 130. We have 56 locations in the United States and Canada, 33 of which are company owned.”
Jacobs said XPO’s major growth strategy plan was poised to acquire between three and five businesses, begin five “cold start” operations and optimize technology based service by hiring more sales staff. So far, the company has acquired three businesses, such as Turbo Logistics, kicked off seven cold start operations and has recruited and trained 125 new sales personnel. in just three months.
“Our goal is for XPO Logistics to be a multi-billion dollar leader in the logistics business using cutting-edge technological solutions that make doing business nationwide to solve transportation problems,” he said. “We promote an atmosphere company wide that is energetic and contagious. It is a very exciting time for us right now.”