Oval Partners, a San Francisco based private equity firm, has announced an investment in Action Imaging Group (AIG). AIG is an office technology company based in Tucson, Arizona with decades of experience in the office automation industry supporting Ricoh, Kyocera, Samsung, and HP products.
“We are extremely excited to join the FlexPrint and Oval Partners team”, states Walter Thomas, managing partner at Action Imaging Group. “Both Jeff Woloshin and I look forward to the benefits this new partnership will bring to our entire team to further reinforce our market leading position.”
“Action Imaging Group has built a great reputation in the Southern Arizona marketplace,” states Frank Gaspari, CEO of FlexPrint LLC. “This investment aligns perfectly with our growth strategy and we look forward to working with Jeff and Walter and their entire team. The synergies between AIG and our portfolio of companies will pave the way for further successful growth.”
This announcement marks the fourth acquisition in ten months for Oval Partners and FlexPrint. In September 2016, FlexPrint acquired Laser Options, a full-service business technology organization specializing in Managed Print Services. In November 2016, FlexPrint acquired ProCopy Office Solutions, a document imaging products and solutions. In February 2017, Cannon IV, an independent Managed Print Services provider and reseller of imaging and printing solutions based in Indianapolis, also joined the FlexPrint Family.
FlexPrint, with the deep pockets of the private equity firm Oval Partners behind them, is growing like crazy. Four acquisitions down, and more likely to come. FlexPrint was already a big dealer in the $50 million plus range prior to the announcement of a partnership between the two companies in January 2016. These past four acquisitions have it pushing closer to becoming a $100 million plus dealership. While the company sells technology from a variety of OEMs, the name of the game at FlexPrint is primarily Managed Print Services, and the company continues to set the industry standard for how to be successful selling MPS. It will also be interesting to see what’s next for FlexPrint with the recent addition of Tom Callinan, formerly of president of Strategy Development, as president.
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