Brightstar Capital Partners (“BCP”), a leading private equity firm, has announced a definitive agreement to acquire a majority stake in Brightstar Corp. (“Brightstar”), a global leader in end-to-end device lifecycle solutions. This strategic partnership aims to leverage Brightstar Capital Partners’ operational expertise and Brightstar Corp’s market leadership to fuel further innovation and expansion in the mobile technology sector. SoftBank Group Corp. (“SoftBank”), the current parent company of Brightstar, will retain a significant minority stake in the company, signaling confidence in the future direction under this new partnership.
Andrew Weinberg, Founder and CEO of Brightstar Capital Partners, expressed enthusiasm about the renewed relationship with Brightstar, stating, “We are thrilled to renew our relationship with Brightstar as it continues to build on the increasing importance of mobile technology around the world. Our experience as investors and operators in this industry gives us confidence in our ability to help Brightstar continue to lead and innovate.” Weinberg highlighted BCP’s deep understanding of the mobile technology landscape, emphasizing their commitment to supporting Brightstar’s growth trajectory.
Rod Millar, CEO of Brightstar Corp., also welcomed the partnership, noting, “Our partnership with BCP provides us with additional resources and relationships to foster our continued growth and capitalize on the vast market opportunities in mobility and handset protection. We are excited to join forces with such a proven team to further enhance our service offerings and expand our market leadership.” Millar emphasized Brightstar’s ongoing commitment to innovation and customer value, and how Brightstar Capital Partners’ investment will accelerate these efforts.
Marcelo Claure, Founder of Brightstar and COO of SoftBank Group, reflected on the company’s journey: “Since I founded Brightstar over 20 years ago, the Company has grown tremendously and become a leader of end-to-end device lifecycle solutions. I am incredibly proud of what Brightstar has accomplished over the years and am excited for an even brighter future. SoftBank looks forward to partnering with BCP as Brightstar enters into its next phase of growth.” Claure’s statement underscores the positive outlook for Brightstar under the new majority ownership of Brightstar Capital Partners and continued support from SoftBank.
Headquartered in Miami, Florida, Brightstar Corp. operates as a central player in the wireless ecosystem, serving a diverse clientele of carriers, retailers, and enterprises across approximately 50 countries. The company’s comprehensive service portfolio spans every stage of the device lifecycle, offering integrated solutions such as device protection insurance, efficient supply chain management, and trade-in services. This acquisition by Brightstar Capital Partners is poised to enhance Brightstar’s capabilities and market reach.
The transaction, expected to be finalized before the end of SoftBank’s fiscal year in March 2021, will result in Brightstar Capital Partners holding a 75% stake in a newly formed subsidiary that encompasses Brightstar Global Group Inc., the parent company of Brightstar Corp. SoftBank will receive cash proceeds alongside a 25% stake in this new subsidiary. This structure ensures both immediate financial benefits for SoftBank and continued participation in Brightstar’s future success under the guidance of Brightstar Capital Partners.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm distinguished by its focus on partnering with founders, entrepreneurs, and management teams. The firm specializes in employing an operationally intensive approach, leveraging its extensive industry experience and a robust relationship network to unlock the full potential of its portfolio companies. Brightstar Capital Partners is dedicated to driving value creation and fostering growth in its investments. For further details, please visit www.brightstarcapitalpartners.com.
About Brightstar Corp.
Brightstar simplifies the complex landscape of the wireless world, making mobile technology accessible globally. As a leader in end-to-end device lifecycle management solutions, Brightstar collaborates with carriers, retailers, and enterprises in approximately 50 countries. Brightstar’s services cover the entire device lifecycle, from manufacturing and distribution to trade-in and remarketing. To learn more, visit Brightstar.com.
Media Contacts:
For Brightstar Capital Partners:
Doug Allen/Zach Kouwe
Dukas Linden Public Relations
[email protected]
212-704-7385
For Brightstar Corp:
Rafael de Guzman
[email protected]
305-987-5121
