The Authority for Consumers & Markets (ACM) announced today in a statement that Gen Star Capital Partners LLC plans to acquire LikeWize Corp. LikeWize Corp, formerly known as Brightstar, is active in Europe as a buyer and seller of used electronics such as smartphones, tablets, watches, and computers, and is one of Apple’s main partners in this area. Along with, for example, the Irish company Alchemy and the American PCS Wireless, they manage the trade-in program, both in stores and online, for the tech giant from Cupertino. It appears that Gen Star Capital Partners is only taking over the buy-back business of LikeWize and not the entire distributor. However, much is still unclear. No further information about the deal can be found on either the LikeWize or Gen Star Capital websites.
It is possible that the originally American company LikeWize has established the headquarters of this business unit in the Netherlands, hence the ACM calls on stakeholders to submit their objections to this acquisition within 7 days.
Likewize business in the Netherlands
According to the ACM, LikeWize only sells used phones in our country. We hope to provide an update soon. We do know that in early March this year, GenStar Capital completed their investment in LikeWize. This transaction was announced back inNovember 2022. According to the press release issued at that time, LikeWize operates in 30 different countries and handles more than 250 million devices annually as a distributor, trade-in partner, and insurer. The amount GenStarCapital has invested has not been disclosed. In addition to the management, Brightstar Capital Partners is also a shareholder.
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