Merrymeeting Group Partners with CPR Cell Phone Repair
Merrymeeting Group and CPR Cell Phone Repair Franchise Systems, Inc. (www.cpr-stores.com) announced a company partnership on October 15, 2013. CPR Cell Phone Repair, the pioneer and fastest growing wireless technology franchise in the United States, formed a company partnership with Merrymeeting Group, a Cleveland-based firm with a portfolio of service-based franchise concepts. Scale Finance LLC advised CPR throughout the process and has provided CFO services for CPR since 2012.
CPR Cell Phone Repair, the pioneer and fastest growing wireless technology franchise in the United States, formed a company partnership with Merrymeeting Group, a Cleveland-based firm with a portfolio of eight service-based franchise concepts including Geeks On Call, Computer Troubleshooters, Sunbelt Business Brokers and Frontier Adjusters.
The asset-based partnership with Merrymeeting Group will launch a new company, MMI-CPR LLC, in which Merrymeeting will have a controlling interest. In addition to providing further resources to grow the supply chain and enhance the Company’s digital and online media, the partnership secures a foundation to rapidly expand the footprint of CPR’s franchised store locations.
“Partnering with Merrymeeting opens new avenues and deepens our capabilities in terms of service and operations,” said Jeremy Kwaterski, CEO of CPR Cell Phone Repair. “We’re looking forward to the new working relationship with the executive team at Merrymeeting and sharing a common outlook with new strategies and ventures moving forward.”
Kwaterski takes the role of President and Co-CEO of MMI-CPR LLC. John Davies, the CEO and Founder of Merrymeeting, will take on the key leadership position as CEO of MMI-CPR LLC as well as the managing partner and Chairman of the Board. Jeff Gasner, Chief Development Officer for CPR, will retain his same role on the leadership team.
Founded in 1996 by Kwaterski, CPR has become the go-to destination for cell phone repairs and features a same-day service desk staffed by highly-skilled technicians able to service a multitude of electronic devices including cell phones, gaming systems, mp3 players, tablets and other personal electronics. CPR also offers a wide selection of professionally refurbished phones, tablets, other electronic devices and accessories. Specializing in broken screens, charging ports and problems, water damage, and much more, CPR has the capability of fully restoring damaged devices in-store and usually in about an hour.
About Merrymeeting Group
Merrymeeting Group is a Cleveland-based firm focused on the acquisition and development of intellectual property driven businesses. Historically, Merrymeeting Group’s focus has been on the franchising, technology and related business service sector with their holdings currently restricted to these types of businesses. By developing platforms of inter-related businesses, Merrymeeting Group has been able to successfully develop significant administrative efficiencies and increase management expertise in these specific vertical markets. For further information about Merrymeeting Group, visit www.merrymtggroup.com.
About CPR Cell Phone Repair
Founded in Orlando, Fla. in 1996, CPR Cell Phone Repair is the fastest growing wireless technology franchise in the United States and operates over 150 locations nationally. As a pioneer and leader in the electronics repair industry, CPR offers same day repair and refurbishing services for cell phones, laptops, gaming systems, digital music players, and tablets among many others personal electronic devices. CPR was named in the 2013 Entrepreneur Magazine’s Franchise 500 ranking, is listed in the Inc. 500 ranking, and has received numerous awards and recognition since the company’s inception in 1996.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance LLC has offices throughout the southeast including Charlotte, Raleigh/Durham, Greensboro, Wilmington, Washington D.C. and South Florida with a team of more than 40 professionals serving more than 100 companies throughout the region.