Growth Equity Raise Positions Ice Mobility as a True Leader in the Wireless Distribution Ecosystem
Intrepid today announced a $65 million debt and equity growth capital raise for its client Ice Mobility, a national distributor of wireless products and a leading provider of supply-chain solutions. The transaction was led by Wells Fargo Capital Finance, the bank’s unit focused on asset-based lending, and Hawthorn Equity Partners, a growth-oriented private equity firm based in Toronto, Ont.
“We were delighted with the results Intrepid’s bankers delivered. Their industry experience, creativity and perseverance guided us through an extremely complex transaction. In addition, they secured excellent financial partners for us, who are interested in helping the company grow and meet our aggressive business plan,” said Mike Mohr, Chief Executive Officer of Ice Mobility.
“Although Ice Mobility is a relatively new company, we’ve known the senior executives for nearly two decades and have witnessed their extraordinary business success in the wireless distribution business,” said Mike Rosenberg, Senior Managing Director at Intrepid. “We’re confident they will match that same success at Ice Mobility.”
“Ice Mobility’s management team is well-respected in the industry and they’ve done a great job of building an organization that provides value-add services which help retailers increase efficiency and product sales,” commented Tristan Snyder, Co-Head of the Software & Services practice and Senior Vice President at Intrepid. “We’re thrilled that we were able to find the right capital partners to help them embark on this next phase of growth.”
Ice Mobility, incorporated in 2013 with distribution facilities in Chicago and Los Angeles, provides a variety of services to large and small retailers alike, including planning, procurement, marketing, forward and reverse logistics, and reporting. The company is also only one of three authorized distributors of Verizon Wireless. The business was founded by two recognized industry leaders: Mike Mohr, long-time President and CEO of Celluphone, LLC, the oldest wireless agent in the country, and Denise Gibson, Founder and former CEO of Brightstar US, Inc.
Deal Team Contacts
- Mike Rosenberg, Senior Managing Director
- Jonathan Zucker, Head of the Capital Markets practice and Senior Vice President
- Tristan Snyder, Co-Head of the Software & Services practice and Senior Vice President
About Intrepid Investment Bankers
Intrepid Investment Bankers provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning of the client’s story and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through active membership in M&A International, an exclusive global alliance of M&A advisory firms.