Spring Capital Closes New Investment in UBIF USA LLC
SPRING CAPITAL PARTNERS IV, L.P.
is pleased to announce the closing of an investment in
UBIF USA LLC
Subordinated Debt
Spring Capital Partners IV, L.P. (“SCP IV”) is a Small Business Investment Company (“SBIC”) as licensed by the United States Small Business Administration in accordance with the Small Business Investment Act of 1958, as amended.
Transaction Overview
Spring Capital Partners IV, L.P. (“SCP IV”) invested subordinated debt with equity features in support of the acquisition of three uBreakiFix by Asurion (“UBIF” or the “Franchisor”) franchise groups, thereby creating the largest franchisee owner in the UBIF network with 39 stores and two mobile units.
About UBIF USA LLC.
Founded in 2009, the Franchisor was acquired by Asurion, the world’s largest consumer electronics insurer, in 2019. With approximately 700 stores, UBIF is the leading consumer electronics repair franchise, specializing in fixing smartphones, tablets, computers, gaming consoles, and other electronic devices. UBIF USA LLC (“UBIFUSA” or the “Company”) was formed by DFT Partners to execute a consolidation strategy within the UBIF franchise network.
About Spring Capital Partners
Spring Capital Partners (www.springcap.com) was founded in 1999 to provide mezzanine capital to growing small and medium sized businesses. The firm is currently investing out of its fourth fund, SCP IV, a $250 million SBIC. SCP IV invests subordinated debt and minority equity, typically in the range of $2 million to $20 million per investment, in change of control/buyout transactions, often with committed private equity funds and independent sponsors, as well as in support of acquisitions, growth, and minority recapitalizations.