MT Business Technologies, Ricoh’s largest dealer, has sold to Global Imaging Systems/Xerox. This is a major loss to Ricoh as MT was a dedicated dealer who consistently performed at the very top of Ricoh’s independent dealer channel.
CJ and I visited with MT earlier this year and we thoroughly enjoyed the meeting the team led by Carl Fernyak and Chuck Rounds. It is a first-class operation and a great credit to John Fernyak (Carl’s dad) who set this train in motion as they transitioned from being Mansfield Typewriter to MT Business Technologies.
In 1918, Mansfield Typewriter was established in Mansfield, Ohio to maintain and service the latest in technology—the typewriter. A few years later, the Mansfield Office Supply Company opened itsdoors to meet the needs of local business owners. In 1932, the owners of the two companies discussed the possibilities, and the two merged to become The Mansfield Typewriter & Office Supply Company.
They quickly recognized the need to keep up with the world of technology. In 1998 they changed their name to MT Business Technologies, Inc.
We estimate MT Business Technologies’ revenue was $75 million in 2016. The dealership’s current run rate would place them in the $80 million class.
This is a great win for Global as the leadership of MT is all about taking caring of its customers and employees. They know that by selling to Global that approach to the business will not change.
Tom Salierno, president of Global Imaging has known the Fernyaks for many years, having served as president of Ricoh USA for a number of years and working with Savin before that. Salierno joined Global in 2008. We congratulated Tom and Mike Pietrunti, SVP of acquisitions, Corporate Service & Marketing for a great win.
At the same time, we reached out to Jim Coriddi, vice president, dealer sales for Ricoh and wished him well as he attempts to compensate for such a significant loss. The nature of the business today makes this extremely difficult to do—one might say, even impossible.
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