Russell Cellular pens pair of acquisitions

Russell Cellular Inc. expanded to four new states with a pair of acquisitions.

The Battlefield-based Verizon wireless retail agent purchased IM Wireless and Select Communications, according to news releases issued yesterday. The financial terms of the deals were undisclosed.

The IM Wireless deal added eight stores in Maine, New Hampshire and Massachusetts, and the Select Communications purchase came with seven stores in Minnesota.

“The acquisition of these locations from Select Communications allowed us to open our first locations in the state of Minnesota” Russell Cellular President and CEO Jeff Russell said in the release. “We are excited about the expansion into a new market.”

The acquisitions also included 41 independent business relationships that will join Russell Cellular’s newly created agent partner program. Through the initiative announced in April, the company works with independent business owners and smaller Verizon agents to operate locations under the Battlefield company's brand and support system.

In all, the acquisitions added 56 stores to Russell Cellular's portfolio. The company now has more than 660 locations in 42 states.

Russell Cellular recently ranked No. 2 on Springfield Business Journal's Dynamic Dozen list of fast-growth companies. Company officials reported 2020 revenue of $664.5 million, representing a three-year growth rate of 57%.