Staymobile® Initiates Aggressive Growth Strategy Anchored by New CEO, Atlanta Relocation and Outside Investment
Former Best Buy and Home Depot Executive To Lead Aggressive Expansion Plan
May 14, 2015 // Franchising.com // ATLANTA - Staymobile®, a mobile device service company providing electronic repair, accessories and protection for businesses and consumers, has initiated an aggressive growth strategy, which includes the appointment of its new CEO, the relocation of its headquarters to Atlanta and a major investment from Detroit-based Kenwal Investment Group.
"We have a thriving base of 20 locations spread throughout four states. Our K-12 and Higher Education partnership program now services more than 175,000 devices in 30-plus school districts, colleges and universities nationwide. With these recent company moves, milestones and momentum, we now smartly position ourselves to achieve our goal of 300 locations nationwide over the next three years," says CEO Brian Hutto, who joined Staymobile in February after a successful stint as vice president of services at Best Buy. "Opportunities abound for us. Mobile device repair is at least a $4 billion industry with positive projected annual growth. No company in the industry possesses a dominant market share, and our biggest advantage is our ability to fine tune our supply chain and offer lifetime warranties on all our services, a policy that leads the industry."
New CEO Leverages Expertise in Services, Operations, and Strategic Growth
In Hutto's previous position with Best Buy, he oversaw strategic growth, operations and led sales and technology support organizations. Prior to that, he managed services, merchandising and store operations support for 1,800 Home Depot locations. "This CEO appointment is a real coup for us," says Chuck Morrison, Staymobile's President and COO. "If you were to tell me two years ago as an emerging company that we would hire an executive of Brian's caliber, I am sure I would have believed you, and his coming on board validates the foundation we've built thus far. Brian believes in the company and shares our values, and ambitious goals. He also joins a roster of high quality Staymobile people whose hard work and innovative thinking have positioned us where we are today."
Atlanta Relocation Capitalizes on Talent Base, Proximity to Fortune 500 Companies
Staymobile is relocating its headquarters to Atlanta, a move the company says it is making to attract and retain the high performing talent that gravitates to the region's largest city. Staymobile also plans to open 10 new corporate stores in the Atlanta metro area by the end of the year with plans to forge partnerships with retail companies as well as strike service deals with Fortune 500 companies and other heavy mobile-dependent organizations in the area.
Kenwal Investment Group Backing Spurs Growth
Many of Staymobile's growth strategies come following a major investment from Kenwal Investment Group, the investment arm of Detroit-based Kenwal Steel. After almost 70 years in the steel business, this is the first time that Kenwal has invested private equity in another company.
"We like Staymobile's solid business model and the opportunity they have to dominate the market and become the nationally recognized brand in mobile device services," says Brian Eisenberg, managing director of Kenwal Investment Group. "Above all, however, we like the people at Staymobile. We have confidence in this partnership because of the company's leadership."
For more information, visit www.staymobile.com.
Staymobile® is a mobile device service company providing electronic repair, accessories and protection for businesses and consumers with the goal of ensuring its customers' personal and corporate mobility. Headquartered in Atlanta, the company currently operates 20 locations, both corporate and franchise, across the Southeast, with plans to expand nationally to as many as 300 stores over the next three years. For more information on Staymobile services or franchising, please visit www.staymobile.com.
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