Dr. Phone Fix Canada Corp., a consumer electronics repair and resale platform, 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, strengthens the company’s expanding national footprint and “reinforces its strategy of growth through acquisitions and disciplined greenfield expansion,” says Dr. Phone Fix.
The total purchase price is $175,000, including approximately $40,000 in inventory and a $50,000 cash payment at closing, with additional deferred and performance-based payments. The balance will be satisfied through the issuance of common shares, aligned with long-term performance and value creation. There will be 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.”
With the acquisition, Dr. Phone Fix gets 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.
In addition, Dr. Phone Fix 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.
“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,” says Piyush Sawhney, Founder and CEO 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.”
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, Dr. Phone Fix currently operates 44 corporately owned retail locations nationwide, delivering repair services alongside offering a curated selection of certified pre-owned devices and premium accessories.