Sentinel Capital Partners, a private equity firm that invests in companies at the lower end of the midmarket, has announced the acquisition of UBEO Business Services, a provider of printer, copier, and related office equipment sales and services in Texas. Terms of the deal were not disclosed.
Headquartered in San Antonio, Texas, UBEO is a provider of document management equipment and related services. UBEO facilitates business technology integration by offering ideas in hardware and software solutions to its customer base of approximately 6,000 mid-sized businesses, schools, and municipalities. With a team of more than 225 salespeople, technicians, and support staff, UBEO sells and services globally-recognized copier and printer equipment in major Texas metropolitan markets and operates seven sales sites serving the San Antonio, Austin, Dallas-Fort Worth, and Houston metropolitan areas. UBEO manages an installed base of approximately 20,000 machines and maintains long-term relationships with vendors such as Konica Minolta, Kyocera, Ricoh, and Xerox.
“We are very excited about the acquisition of UBEO and partnering with a regional market leader with a stable, highly recurring business model, high margins and strong free cash flow characteristics,” said Scott Perry, a partner at Sentinel. “As the largest independent dealer in Texas, UBEO is a scalable platform and ideal for consolidating its highly fragmented industry. We are very pleased to partner with a highly experienced, talented, and strongly committed management team that has a proven record of profitable growth.”
“We are very proud of the reputation we have built,” added Jim Sheffield, president and CEO of UBEO. “UBEO outperforms its competition in the service categories that our customers value most – technical capability, service quality, and on-time delivery. Partnering with Sentinel well positions us for our next phase of profitable growth.”
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