Grenville Strategic Royalty Corp. (TSX-V: GRC) along with investment partners, Foregrowth Holdco Inc. and Darwin Strategic Royalty Corp. have signed a royalty purchase agreement with Fixt Wireless Inc. to provide CDN$250,000 in growth capital.
Grenville invested $125,000 while Foregrowth Holdco Inc. and Darwin Strategic Royalty Corp. together invested $125,000.
Fixt Wireless is a Toronto-based B2B and B2C wireless device repair service provider. In 100% corporately owned locations, the company provides clients with same-day service for most repairs, as well as a variety of warranty programs, mail-in, pick-up, and delivery services for corporate customers.
“Fixt is a stellar example of the type of technology service business we seek. We are delighted to be co-investing alongside this world class management team led by Garry Wood,” said Grenville CEO Steve Parry. “We believe Garry and his team are building a great Canadian brand in the emerging market for cell phone repair where one or two dominant firms will emerge over the next few years. We believe their business plan, expertise and exceptional networks built over decades in the telecom industry position Fixt to be one of the winners in this race.”
photo credit: Steve Buissinne via pixabay