SIZE + RepairSmith | Financial Strategy & Acquisition Management
RepairSmith, a leader in mobile auto repair services, partnered with SIZE to navigate a critical phase of growth. SIZE Co-founder Jim Winett played a pivotal role in enhancing the company's financial infrastructure and guiding it through a successful acquisition by AutoNation, setting RepairSmith up for long-term success in the evolving mobile services market.
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The Brand
RepairSmith revolutionized the auto repair industry with a cutting-edge mobile platform that seamlessly integrated convenience and technology. Through a sleek, user-friendly online interface, customers could book a wide range of repair and maintenance services, delivered directly to their doorstep. This innovative approach disrupted the traditional repair shop model, significantly reducing vehicle downtime for both individuals and fleet operators. With its scalable infrastructure, powered by data-driven insights and optimized logistics, RepairSmith was primed for rapid growth in the fragmented $78 billion market.
The Objective
RepairSmith engaged SIZE to prepare for a Series B fundraising round aimed at scaling its operations. Jim Winett, brought in as interim CFO, was tasked with enhancing the company’s financial infrastructure, developing advanced financial models, positioning the company for rapid growth, and working side-by-side with the CEO on the capital raise —all while maintaining operational stability during a pivotal phase of expansion.
The Challenge
During the Series B fundraising process, strategic buyers emerged, expressing interest in a 100% acquisition rather than simply making an investment. Together with the Company, Jim Winett and SIZE quickly pivoted their strategy from purely fundraising efforts to managing acquisition negotiations. This shift required securing bridge financing to maintain liquidity and operations while balancing acquisition discussions. The dual-track approach ensured RepairSmith could seize strategic opportunities without losing momentum or investor confidence.
The Process
With strategic buyers now at the forefront, Jim worked closely with the CEO and management team to manage cash flow, balancing acquisition negotiations and ongoing operations. Securing multiple rounds of bridge financing, Jim ensured that RepairSmith had the financial flexibility to continue growing while supporting the sale process, ultimately steering the business toward a successful exit. Over the course of 18 months, Jim and SIZE led RepairSmith through key strategic steps:
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Upgrading Financial Infrastructure: Transitioned from QuickBooks to NetSuite, streamlining financial operations and enhancing real-time financial insights to support both fundraising and acquisition.
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Developing Financial Models: Created advanced financial models that supported valuation assessments for both investors and potential buyers.
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Securing Bridge Financing: Closed multiple bridge financing rounds to ensure liquidity during acquisition negotiations.
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Participated in Acquisition Negotiations: Played a critical role in managing buyer discussions while maximizing value for investors.
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Maintaining Investor Confidence: Kept investors engaged and confident in the company’s trajectory, securing their strong backing for the sale.
The Results
The collaboration between RepairSmith and SIZE was instrumental in driving the company’s growth and success. RepairSmith’s strategic pivot from Series B fundraising to acquisition negotiations resulted in its acquisition by AutoNation, the leading public automotive dealership group. Now operating as AutoNation Mobile Service, the business is fully integrated into AutoNation’s expansive network, positioned to capitalize on a rapidly growing market for mobile services. The partnership with SIZE not only delivered significant returns to investors but also set the company on a path for sustained growth in a highly competitive, evolving industry.
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Why do you like working at SIZE?
"One of the things I enjoy most about working at SIZE is being part of a team that truly makes an impact. Working with RepairSmith through their journey is a great example of SIZE's Finance team's ability to bring growth and acceleration financial services to help deliver a successful outcome for investors, the founder, and the employees. It’s incredibly rewarding to see how our strategic efforts can shape a company’s future and create positive results for everyone involved."
JIM WINETT
Co-Founder/Strategic Planning, Operational Restructuring & Finance Advisor, SIZE
