Jacobs Private Equity in its $1 billion investment in SilverSun Technologies
SilverSun Technologies, Inc. (Nasdaq: SSNT) and Jacobs Private Equity II, LLC, which is led by Brad Jacobs, today announced that they and minority co-investors have entered into an investment agreement, pursuant to which JPE and the minority co-investors will invest $1 billion in cash into SilverSun. The proposed equity investment is comprised of $900 million by JPE and $100 million by co-investors, including Sequoia Heritage. Upon the closing of the equity investment, JPE will become the majority stockholder of SilverSun and Jacobs will become the Company’s chief executive officer and chairman of its board of directors.
Wachtell, Lipton, Rosen & Katz is serving as legal advisor to JPE.