Digital Leash L.L.C. d/b/a ProtectCELL completed an equity recapitalization with Fortegra Financial Corporation, a portfolio company of Summit Partners. Quarton Partners acted as the exclusive financial advisor to ProtectCELL.
ProtectCELL is a rapidly-growing provider of wireless device protection plans and mobile services sold to consumers across thousands of wireless retail locations nationwide. ProtectCELL’s protection plans cover standard mobile phones, smartphones, tablets and other wireless devices. ProtectCELL is one of the few companies in its served market offering additional benefits beyond traditional device replacement, including mobile security and identity theft protection.
Fortegra Financial Corporation (NYSE: FRF) is an insurance services company that provides distribution and administration services and insurance-related products to insurance companies, insurance brokers and agents and other financial services companies in the United States. Fortegra’s brands include: Life of the South, Consecta, Bliss & Glennon (B&G), eReinsure (eRe), Motor Clubs, Pacific Benefits Group (PBG), Universal Equipment Recovery Group (UERG), and South Bay Acceptance Corporation (SBAC). Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised more than $14 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 340 companies across a range of industries. These companies have completed more than 125 public offerings, and in excess of 130 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, London, and Mumbai.
Quarton was engaged to assist in determining strategic alternatives related for a capital raise/partial sale of ProtectCELL. Quarton’s approach to the project was thoughtful, diligent, and comprehensive. The team was incredibly responsive and consistently met timeframes established as benchmarks in the process.
Quarton exceeded all expectation in terms of managing the sale process from LOI to close. The coaching during the management presentations was highly effective and instrumental in keeping momentum throughout the process. As the transaction reached the closing phase, Quarton’s steady hand helped overcome hurdles and shape alternatives that were key to closing the transaction. Thank you for your excellent service.
Former CFO and Shareholder, ProtectCell
December 20, 2018
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