ARX Equity Partners (“ARX”) is delighted to announce the majority acquisition of TMX Mobile Solutions (“TMX“). Going forward, ARX will partner with the company’s senior management, who retain a significant minority stake as part of the deal.
TMX is a market leader in the Hungarian mobile device repair space and a significant European player more generally. The company is on-track to generate a revenue stream of over €40 million in 2018. TMX employs over 400 skilled staff, who deliver a service-offering comprised of physical repair, logistics and refurbishment of mobile phones. They repair approximately 500,000 mobile devices annually for B2B customers that consist of major mobile device OEMs, smartphone insurance providers and mobile operators respectively.
The ARX strategy with TMX is to perfect the company’s leading position in what is a growing domestic Hungarian market, while also maximizing the upward trend for mobile device repairs in Central and Eastern Europe. TMX is ideally positioned in terms of scale, logistical capabilities, proximity and cost competitiveness to capture a meaningful share of the European insured device repair market.
“TMX is a quality business that possesses robust systems, significant geographic coverage capabilities and a blue-chip client base. We are impressed with the company’s ability to efficiently handle complex repairs and the related logistical demands, which combine to deliver a seamless and satisfying customer experience,” explained Bela Lendvai-Lintner, a Partner with ARX.
“We are excited to welcome ARX as an experienced partner that has a track-record in supporting domestic Central European leaders on their journey toward regional expansion and internationalisation.” said Balazs Kotányi, majority owner of TMX.
TMX represents the second investment from the fourth ARX managed private equity fund, following the successful exit of VUES in April of this year.