Dr. Phone Fix Canada Corporation, one of Canada’s fastest-growing and award-winning consumer electronics repair and resale platforms, says it has entered into a definitive agreement to acquire the assets of Cell Phone Solutions, a device repair business based in Saint John, New Brunswick.
The acquisition, together with the signing of two additional retail leases in New Brunswick and Ontario, further strengthens the company’s expanding national footprint and reinforces its strategy of growth through acquisitions and disciplined greenfield expansion, it said.
“This acquisition, combined with the addition of two new locations, means Dr Phone Fix is continuing to execute on our growth strategy and will give us a solid presence in a new province – our sixth,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix.
“We continue to see acquisition opportunities across Canada within a fragmented industry. By combining acquisitions with selectively opening new stores, we believe we are building a scalable platform for long-term growth. This dual approach allows us to accelerate growth while maintaining strong capital discipline.”
Transaction Highlights
- Acquisition of an established revenue-generating repair business in Saint John, New Brunswick
- Total purchase price of $175,000, including approximately $40,000 in inventory
- $50,000 cash payment at closing, with additional deferred and performance-based payments
- Balance satisfied through the issuance of common shares, aligned with long-term performance and value creation
- Structured earn-outs tied to revenue thresholds.
The transaction structure reflects Dr. Phone Fix’s continued focus on disciplined capital allocation while aligning vendor incentives with future operational performance, said the company.
“The acquisition of Cell Phone Solutions provides Dr. Phone Fix with an established, revenue-generating location and a loyal customer base in New Brunswick, currently generating approximately $350,000 in annual revenue. The Company expects to enhance performance through integration into its centralized operating platform, including procurement efficiencies, pricing optimization, marketing, and standardized operating processes,” it said.
“In addition, the Company has secured two new retail locations in New Brunswick and Ontario, supporting its strategy of increasing regional density and enhancing brand visibility in underserved markets.”
The company said the Canadian device repair market remains highly fragmented, with the majority of operators being independent, single-location businesses. Dr. Phone Fix said it continues to position itself as a leading consolidator and to expand its footprint through acquisitions, operational integration, and organic store development.
“Management believes the Company’s centralized operating model, OEM relationships, national purchasing capabilities, and standardized training systems provide operational advantages in integrating and scaling acquired businesses. Acquired locations are typically under-optimized prior to integration, providing a clear pathway for value creation,” it added.
The transaction is expected to close in the near term, subject to customary closing conditions and approvals, including acceptance by the TSX Venture Exchange.
Founded in 2019, the company now operates 44 corporately owned retail locations nationwide.
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