Article from ENX Magazine – Keeping Skin in the Game: Oval Partners and Flex Technology Group Offer Alternative to Traditional M&A Deals 

9 Consecutive Years of Exponential Growth Lands FlexPrint Among Rarefied Group of Private Companies in America

PHOENIX, June 10, 2018 (Newswire) – FlexPrint, in partnership with Oval Partners, have created an acquisitive partnership model that is unique and attractive that can be seen by the hyper-growth of the Flex Technology Group.
 

Merger and acquisition activity in the office technology industry is heating up, and there are several important factors contributing to increased M&A activity. There’s no secret that print is on the decline in corporate America, so gains in market share become the focal point for growth. Office technology manufacturers (OEMs) have been migrating their marketing and sales efforts to expand and support their dealer base, and dealers are trying to expand their scope and geographic footprint to gain economies of scale.
Patricia Ames, senior analyst for BPO Media, which publishes The Imaging Channel magazine recently wrote an article with Leo Bonetti, founder and chairman emeritus of Flo-Tech, to talk more about why this was a good move for them specifically and how they see the office technology channel evolving going forward.
“One of the more interesting stories in the industry lately involves the influx of new capital from private equity and venture capital groups. Investments have followed a rainbow of different models, but the impact is undeniable. Capital spurs growth and growth is becoming more and more elusive in the channel,” states Patricia Ames, President and Analyst at BPO Media. “FlexPrint has been at this game longer than most, and one of the recent dealerships to join the Flex Technology Group team are the MPS specialists at Flo-Tech out of New England. I had the opportunity to sit down with Leo Bonetti, founder and chairman emeritus of Flo-Tech, to talk more about why this was a good move for them specifically and how they see the channel evolving going forward.”
“It is exciting to be part of the Flex Technology Group executive team. Even though we generate over $250 million in revenue, the enthusiasm and excitement make it feel like a start-up organization,” said Leo Bonetti, founder and chairman emeritus of Flo-Tech.  “Each core company operation is run independently, but we share ideas across all companies to help each of us improve our results and to create and provide more opportunities for our employees. I love that I get the information and support and I have to admit that the competitiveness of being ranked against the other companies in the group makes me want to be at the top of the charts. It’s what many companies get from peer groups, only this is on steroids because each of you are stockholders in the company, so you have a shared vested interest.”
To read the interview, click here – Q&A with Leo Bonetti

FlexPrint LLC Joins an Exclusive Group That Has Made This List For 8 Straight Years

FlexPrint’s growth strategy continues with 4th acquisition in the last 10 months
PHOENIX, ARIZONA (July 31, 2017) – Oval Partners, a San Francisco based private equity firm, has announced an investment in Action Imaging Group (AIG). AIG is a leading 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 top-of-the-line, full-service business technology organization specializing in Managed Print Services. In November 2016, FlexPrint acquired ProCopy Office Solutions, a trusted document imaging products and solutions provider that helps reduce the complexity associated with technology selection. In February 2017, Cannon IV, which is a leading independent Managed Print Services (MPS) provider and reseller of imaging and printing solutions based in Indianapolis, also joined the FlexPrint Family.