M&A Roundup: Systel Business Equipment Acquisition Highlights Trio of Deals

Just when you think the transaction wire was beginning to cool off, the final week of February offers a triad of deals, including Systel Business Equipment’s addition of Office Copying System’s customer base. Smart Office Automation and NuSource Financial also signed off on key deals.

Systel Business Equipment is excited to announce that it has acquired the customer base for Office Copying Systems in Greenville, South Carolina, which has been providing the best in customer service since 1972. Systel will be serving the western half of the state from its new location at 113 Edinburgh Court, Greenville, SC 29607, and is conveniently located to the company’s Asheville and Charlotte, North Carolina; Florence, South Carolina, and Atlantaoffices. Systel is the largest independent dealer of office equipment in their authorized territories in the Southeast and is authorized in five states, with 13 total offices, two located in the state of South Carolina.

This acquisition aligns with Systel’s growth strategy into the South Carolina marketplace, following the company’s recent purchase and acquisition in Florence that was completed in June of 2021, where it has already begun to see success with customers in the marketplace. “Systel has continued to be a pillar of stability and sustained growth throughout North Carolina and Georgia for forty years, even in the face of challenging times,” states Steven Tomasetti, service manager. “We’ve accomplished this through adaptive efficiency, top-notch factory-trained technicians, and localized management for a personal approach to customer satisfaction. We are excited to bring these attributes to the South Carolina Market.”

Systel has full-line manufacturer authorizations in both the eastern and western regions of South Carolina and can serve the entire state with the majority of its vast product lines. Systel is now also an approved vendor for the South Carolina State Contract.

With the addition of its second office location in South Carolina, Systel can also provide hands-on service to its existing customers in the area that it had previously partnered with local dealers for in the past. “Coupled with Office Copying Systems’ long-standing customers, as well as our current customers in the marketplace, we are excited to have an established base of machines in the field that we can already start supporting from our new location,” states Jacqueline Smith, vice president of marketing and business development. Systel plans to have a grand opening ceremony at its new location in the near future.

Smart Office Automation-Advanced Copier Technology

Mike Dudek and Rich Wisniewski of Zygoquest Group “seeking to unite” served as the advisor to Advanced Copier Technology Inc. and owner Dan Schmoll on the sale of assets to Smart Office Automation, LLC. Terms of the transaction are confidential.

Schmoll is excited about combining the resources and talent of both great organizations, to exponentially expand opportunities to serve more clients, while maintaining the high level of customer service that has been a hallmark of Advanced Copier Technology for 35 years.

Smart Office Automation CEO Marty Maddox said, “Smart is enthusiastic about finding strategic opportunities to extend exceptional service and provide value-added products to businesses throughout Texas.”

NuSource Financial-Turnkey Financial Equipment

Prosperity Plus announced that Turnkey Financial Equipment has been acquired by NuSource Financial. Prosperity Plus acted as an advisor to Joe Petchulat, owner of Turnkey Financial throughout the transaction.

TurnKey Financial Equipment is a security solutions and branch transformation technology provider for banks and credit unions based in the state of Iowa. With a similar customer base in place, the acquisition creates synergistic opportunities for NuSource Financial, enabling it to provide new security solutions to existing customers in Iowa and Wisconsin. The acquisition also provides the opportunity to leverage NuSource’s expertise in ITM and other branch transformation technologies.

“We are extremely excited about the acquisition of TurnKey Financial Equipment,” said Jon Erpelding, president and CEO of NuSource Financial. “With NuSource’s commitment to helping financial institutions automate more transactions while creating a great customer experience, the addition TurnKey is a strong fit that both TurnKey and NuSource clients will benefit from. TurnKey has an amazing group of talented people that we are excited to have join our family.”

Petchulat echoed those thoughts by saying “I am excited about bringing these two companies together. As I move into retirement, I am happy to know TurnKey’s great customers and employees will be well cared as part of the team at NuSource.”

Specific details of the transaction are confidential and have not been released.


About Systel Business Equipment
Systel Business Equipment was founded on November 1, 1981, in Fayetteville, North Carolina by current President and CEO Keith Allison. Beginning with a handful of employees, Systel has now grown to over 250 employees and has since become a leader in its industry. Allison’s three daughters, Janene Aul, Jacqueline Smith, and Cara Spencer serve as members of Systel’s Executive team with the intent to sustain the company’s success by providing the highest level of customer service and satisfaction in business solutions, while continually expanding the company’s geographical footprint.

About Prosperity Plus
Prosperity Plus offers a full range of merger and acquisition services. The consulting group may represent either the buyer or the seller in a transaction. If you are thinking of selling your business or looking to buy another give us a call. For more information please contact Jim Kahrs at Prosperity Plus 631-382-7762 ext. 101 or via email.

About NuSource Financial
NuSource Financial is one of the fastest-growing technology solutions integration companies in the U.S., supplying ATM, branch transformation, and security and alarm solutions. A commitment to integrating technologies that drive success for clients has fueled their growth into seventeen states with over 700 financial institutions.

About TurnKey Financial Equipment
TurnKey Financial Equipment, based in Manchester, Iowa is a growing provider of ATM, branch transformation, and security products and services for financial institutions. Through a complete line of physical and electronic security products, as well as full servicing capabilities, TurnKey is committed to providing the highest quality products backed by a strong commitment to service.

About Advanced Copier Technology
Advanced Copier Technology, headquartered in Richardson, Texas (a suburb of Dallas), is owned and operated by Dan Schmoll. Founded in 1987, Advanced Copier Technology was an authorized Canon dealer, which sold and serviced office equipment to customers throughout the greater Dallas and Fort Worth metropolitan markets.

About Smart Office Automation
Smart Office Automation, headquartered in Houston, is a full-line Premier Sharp dealer with additional offices in Austin and Dallas-Fort Worth, with coverage in San Antonio. As the fastest growing Sharp dealership in Texas, Smart Office Automation is committed to continuous training and reliable service to clients, with a wide range of office products to promote seamless operations and high productivity for businesses large and small. When customers make initial contact with front office administrative staff, account executives, and highly skilled service professionals; it is evident that all are committed to putting the customer first. This elite level of customer service has accelerated the growth of Smart statewide and beyond. Technicians specialize in the leading brands of office automation equipment manufactured by Sharp, Canon, HP, Brother and Kyocera.

About Zygoquest Group and Mike Dudek
Mike Dudek, an attorney and CPA, is the owner of Zygoquest Group “seeking to unite” which provides customized merger and acquisition services to buyers & sellers of companies. Zygoquest is the #1 M&A authority in the office products industry. Dudek and Rich Wisniewski are authors of over 500 consummated M&A transactions including many technology services acquisitions during their careers. Prior to founding Zygoquest, Mike Dudek was vice president of acquisitions for IKON Office Solutions, a $5.5 billion NYSE company acquired by Ricoh Corporation. Dudek has evaluated transactions ranging from the smallest transactions to the largest deals in the office products industry – from million-dollar deals to multi-billion-dollar deals. The Zygoquest website contains deals you will recognize.

About Law Office of Mike Dudek
Mike Dudek also owns the Law Office of Mike Dudek, which provides owners and executives with customized and affordable legal services on mergers and acquisitions and other complex business transactions.