Florida Community Bank Awards uBreakiFix $20 Million Facility to Support North American Expansion Strategy
Orlando, Fla., Jan. 09, 2018 (GLOBE NEWSWIRE) -- uBreakiFix, an industry leader in electronics repair, today announced securing a $20 million credit facility to support the rapid expansion of its business across the U.S. and Canada. Florida Community Bank was selected to provide the facility, which went into effect on Jan. 3, 2018. The facility supports uBreakiFix's continued strong growth and expanding OEM partnerships.
"We were looking to partner with a visionary bank that understood our history and our potential," said Justin Wetherill, president and co-founder of uBreakiFix. "Kent Ellert, Jim Baiter, Chris Rolle, and the entire FCB team came up to speed on our business and industry extremely quickly. We look forward to being able to access their business expertise, as well as their capital, as we grow our customer base and relationships to the next level."
"We are excited to begin our partnership with uBreakiFix. I first met Justin in 2012 and have been fortunate to watch the company grow over these last six years," said Chris Rolle, senior vice president, Central Florida banking director of Florida Community Bank. "FCB is committed to helping Florida-based companies thrive, and we are pleased to be a part of the next phase of growth at uBreakiFix."
uBreakiFix was founded in 2009 by a savvy millennial duo, Justin Wetherill and David Reiff, who married their skillsets with Eddie Trujillo to offer a brick and mortar alternative tech repair option that was quick, affordable, and provided a quality customer experience. The company began franchising in 2013 and partnered with Jordan Socran in 2014 to bring the brand to Canada. By filling a gap in the repair marketplace, the company has grown organically across North America.
Today, uBreakiFix has more than 350 locations across the U.S. in Canada, averaging about two new store openings per week. The brand specializes in same-day repair service of small electronics, mending cracked screens, water damage, software issues, camera issues, and most other technical problems. To date, uBreakiFix has repaired more than 3.6 million devices and served nearly 3 million customers.
About uBreakiFix
Founded in 2009, uBreakiFix specializes in the repair of small electronics, ranging from smartphones, game consoles, tablets, computers, and everything in between. Cracked screens, water damage, software issues, camera issues, and most any other problem can be repaired by visiting uBreakiFix stores across the U.S. and in Canada. For more information, visit ubreakifix.com.
About Florida Community Bank
Florida Community Bank, N.A., (NYSE: FCB) is the largest community banking company and the second largest Florida-based independent bank and is among the most highly capitalized banks in the state. Awarded a five-star rating from Bauer Financialtm, FCB assets are more than $10 billion, with capital ratios that exceed regulatory standards. Since its founding in 2010, FCB has been steadfast in its commitment to delivering personalized service, innovation, and products and services equal to those offered by the national banks. Similarly, FCB recognizes the importance of community, fostering a corporate culture that promotes employee volunteerism at all levels, while supporting community-based programs and partnerships that help promote greater financial independence and improved quality of life for families. FCB serves individuals, businesses and communities across the state with 46 full-service banking centers from east to west, and from Daytona Beach to Miami-Dade. For more information, visit FloridaCommunityBank.com. Equal Housing Lender, Member FDIC.
For more information, contact:
Hannah Kersh
678-978-7787
[email protected]
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