Genstar Capital (Genstar) has acquired a majority stake in Likewize, a global provider of tech protection and support services, having first invested in the business back in March 2023. Senior management and Brightstar Capital Partners (Brightstar) remain as minority investors.
Founded in 1997 and headquartered in Dallas, TX, Likewize serves many of the world’s biggest brands, including telecommunications companies, financial institutions, and retailers, protecting millions of customers from tech-related issues. The company handles over 250 million device issues annually, from warranty and repairs to upgrades and premium technical support.
Since Genstar’s initial investment, Likewize has grown its core business by more than 30%. Over the past 12 months, the company has added major partnerships with some of the world’s largest telecommunications carriers, retailers, and financial institutions, and has expanded its footprint across Europe.
According to a press statement, the increased investment from Genstar will allow Likewize to “focus on accelerating adoption of added value solutions such as AI-driven claims handling and expanded premium tech support, ensuring it maintains its reputation for the industry’s best customer experience, commercials, and technology”.
Financial terms of the transaction have not been disclosed.
