Pine Tree Equity has acquired Jewelry Repair Enterprises, a franchisor of jewelry and watch repair centers.
Jewelry Repair Enterprises (dba Fast-Fix) is a national franchisor of jewelry and watch repair centers with over 150 mall-based locations throughout the United States and Canada. Franchisees primarily provide quick turnaround jewelry and watch repair services, completing approximately 90% of repairs in less than one hour. Fast-Fix also offers jewelry, watches and engravable gifts for purchase. The company was founded in 1984 and is headquartered in Delray Beach, FL (www.fastfix.com).
Pine Tree Equity has partnered with Mr. Mike Meyers and Mr. Russ Cooper, two retail executives with franchising experience, to accelerate the growth of the franchise base by taking the Fast-Fix model to new geographies. Mr. Meyers and Mr. Cooper formerly served as Chief Executive Officer and Head of Franchising, respectively, for General Nutrition Centers (“GNC”), where they played an integral role in driving GNC’s growth from a concept with 900 mall-based locations to a leading global specialty retailer of nutritional supplements with over 6,000 locations and $1.5 billion of revenue.
Pine Tree Equity invests in companies with revenues of $10 million to $50 million and EBITDAs of $2 million to $6 million. Sectors of interest include business, consumer and financial services; consumer products; franchisors and franchisees; and niche manufacturing. Pine Tree Equity is based in Miami (www.pinetreeequity.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-6-12