Toronto, Ontario — October 8, 2019 — An American at-home car maintenance service is planning global expansion after acquiring a Canadian competitor, Fiix.
Wrench, a Seattle-based on-demand car maintenance service has acquired Toronto-based Fiix, another car maintenance provider. With the acquisition under its belt, Wrench said it plans to improve its online search engine reach and possibly expand into Canada. Terms of the deal were not disclosed.
Wrench launched on year after Fiix, but has since amassed a greater geographic footprint and raised more capital, including a US$12 million series B round last year. The company vets mechanics out to customer without a trip to the bodyshop. Wrench does repairs anywhere—from an office parking lot, to a bustling downtown parking garage, to a customer’s driveway.
Fiix was founded in 2015 and has since served more than 8,000 customers in the GTA. It has more than 500 five-star reviews as well as exclusive deals with Uber and Car2Go. The company received $1.9 million in funding in 2017.
Zain Manji, co-founder and chief operating officer of Fiix called the acquisition “exciting and bittersweet.” He explained that the company is at a point where it would require a large amount of capital to expand to other cities and improve its business-to-consumer retention.
Before its acquisition, Fiix served more than 20 cities across the GTA, and Manji said it spent months meeting with potential acquirers before settling on Wrench.
“We find the team at Wrench exceptional, and love their operational and product capabilities,” Manji wrote in a post on social media. “Most importantly, their ability to execute and push boundaries within the industry is superb.”
