Ice Mobility has raised $65 million in debt and equity growth capital from Wells Fargo Capital Finance and Hawthorn Equity Partners. Vernon Hills, Illinois-based Ice Mobility distributes wireless products and provides supply-chain solutions. News of the financing was announced by Intrepid Investment Bankers which advised on the deal.
LOS ANGELES–(BUSINESS WIRE)–Intrepid Investment Bankers (Intrepid), a leading middle-market investment bank, 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, Head of the Digital Media & Technology practice 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.
To learn more about this transaction, contact Mike Rosenberg, Senior Managing Director, Tristan Snyder, Head of the Digital Media & Technology practice, or Jonathan Zucker, Head of the Capital Markets group, at 310-478-9000.
Intrepid Investment Bankers is a specialty investment bank that provides M&A, capital raising and strategic advisory services to middle-market companies across various industry sectors. We have a unique culture rooted in our founders’ successful 30-year history of advising entrepreneur and family-owned businesses, financial sponsors and major corporations. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. We deliver unconventional results through our unique ability to tell each client’s story, and drive relentless execution through senior banker immersion in each process. We augment our international capabilities through our membership and active participation in M&A International Inc., an exclusive global alliance of select independent middle-market M&A advisory firms. Member FINRA/SIPC. Follow INTREPID
About the Digital Media & Technology Practice
Our Digital Media & Technology practice is an innovative and focused strategic advisory unit that has deep investment banking, strategic consulting and related industry expertise across a broad range of subsectors, including: Digital and Internet Marketing, Social and Mobile Media, Ad Tech, eCommerce, Software-as-a-Service (SaaS), Cloud Computing, Big Data and Analytics and Technology-Enabled Business Services. We specialize in assisting entrepreneurs and middle-market business owners prepare for and navigate this constantly evolving ecosystem. Read Tristan Snyder’s recent article titled: “Silicon Beach: A hotbed for technology startups, financing, and M&A”.
About the Capital Markets Group
For more than 30 years, our principals have advised clients in capital transactions, leveraging their institutional investor relationships and expertise in managing competitive processes. Our team is committed to helping clients meet their capital needs by securing financing through various investment structures that include equity, senior, structured and mezzanine debt. Read Jonathan Zucker’s recent article titled: “Fifty Shades of Capital – Finding the right financing partner”.