While there seems to be enough action to whet everyone’s beak in the M&A theater, it seems some companies are finding that just one deal during the course of a month’s time isn’t quite enough. That is the case for both Phoenix-based Flex Technology Group (FTG) and Doing Better Business (DBB) of Altoona, Pennsylvania, as each dealer polished off a second transaction within a matter of weeks.
Additionally, Nashville, Tennessee-based RJ Young completed a second deal in 2022, albeit not this month, with its announced acquisition of Lewis Digital in Tallahassee, Florida.
After inking a deal to add Copy Link during the first week of May, FTG made a huge splash this week by adding Standard Office Systems of Duluth, Georgia, to its platform. DBB, meanwhile, followed up last week’s announced acquisition of Multiscope Document Solutions by reaching an agreement to obtain Rocco & Strain in Pittsburgh.
This week’s announcement was a significant one for FTG. Standard Office Systems (SOS), based in the Atlanta suburbs, is a familiar face on the ENX Magazine Elite Dealer list and a $29 million performer with more than 100 employees. A multiline dealer founded in 1964, SOS provides copiers, printers, communications, and IT services to companies of all sizes, reaching well beyond the metro Atlanta area.
“This new partnership with Flex Technology Group will not only accelerate our team’s growth strategy but greatly enhance what we can offer our incredible employees at SOS,” states Bryan Ammons, president of SOS. “While we’re proud of what we’ve built thus far, this is a unique opportunity to amplify what we’ve been doing and elevate our value propositions to our current and future customers.”
“We’re excited to welcome Bryan Ammons and his entire team at SOS to the FTG family,” states Frank Gaspari, CEO of Flex Technology Group. “SOS is a highly respected and first-class organization that will strengthen our national presence and become a platform company to anchor our growth initiatives in the Southeast.”
“We are encouraged by the increasing acquisition momentum we see in the industry,” states Jake Mizrahi, managing director of Oval Partners. “We’re excited to bolster our presence in the southeast with Bryan and the SOS team.”
Ammons, who will be an equity holder in Flex Technology Group, and his executive team will remain in their current leadership roles to ensure the continuation of the company’s proven success in serving its employees, customers and the Atlanta community for over 50 years. Together, with the entire SOS team, they’ll move forward as a platform company within FTG.
Doing Better Business-Rocco & Strain
For the second time in as many weeks, Doing Better Business (DBB) of Altoona, Pennsylvania, has put the finishing touches on a deal, acquiring Pittsburgh-based Rocco & Strain Inc.
DBB has ramped up its acquisition activity in the past two years. Last week, DBB announced it had obtained Multiscope Document Solutions, with two locations in Pennsylvania. This marks the third announced deal in 2022 for DBB, which acquired Canton Business Machines of Canton, Ohio. In 2020, DBB picked up Pro Business Systems of Boardman, Ohio.
A regional leader in engineering and blueprinting reprographic services founded in 1990, Rocco & Strain offers sales and service of large-format devices and plotters from Ricoh, KIP and HP. That dovetails nicely with DBB’s arsenal, which includes wide-format printers from Ricoh. DBB has also made significant investments in training and development in order to furnish clients with HP PageWide XL large-format technical printers.
“A definite part of DBB’s strategic plan has been to grow our large-format printing business,” said Debra Dellaposta, DBB CEO and president.
Despite reaching outside its geographic footprint, Dellaposta prefers looking to her backyard for prospective opportunities. “I would really like to keep future acquisitions within our current geographic region,” she added. “From a product standpoint, we are truly focused on being the leader in the managed print and document services space.”
Following the untimely passing of founder Rocco Strain, Rocco & Strain’s family ownership wanted to align with a regional independent power of Ricoh and HP service providers. Jim McGivern, DBB’s field service technician, will be assisting the transition team.
Joe Dellaposta, chief operations officer for DBB, believes this most recent deal is a “perfect tie-in” complementing Multiscope Document Solutions. “With the teams’ expertise in commercial printing and the breadth of the Canon large format product line, we now have the ability to meet every client’s needs.”
RJ Young-Lewis Digital
RJ Young, an industry-leading business technology solutions provider, announces today its acquisition of Lewis Digital, a 30-year office technology provider in Tallahassee, Florida. Lewis Digital’s employees will join the 600-plus RJ Young team members. All operations, area offices and team members will remain local.
The acquisition marks RJ Young’s second transaction in 2022 and tenth in the past five years. The latest is part of the company’s aim to best serve organizations in Florida’s capital and beyond.
“As more businesses move to leverage office technology as a business advantage, it’s an exciting time in our industry,” said Lewis Digital Vice President Robert Lewis. “We’re looking forward to joining forces with RJ Young to bring the Modern Office to more businesses in the Tallahassee area.”
“The partnership with RJ Young will allow us to deliver more of what has always been the most important to us – which is taking care of our customers and people,” said Lewis Digital President Tracy Lewis.
Founded in 1989, family-owned Lewis Digital provides clients with the ability to achieve long-term flexibility and implement world-class technology in their workplace. Their expertise in both digital production machines and computer networks has enabled them to provide value to their client base.
“Lewis Digital has a legacy of excellence, commitment to customers and loyalty to its team members. Their values align directly with ours at RJ Young which makes the partnership an easy fit,” said RJ Young President and CEO Chip Crunk. “We look forward to the impact this will make (on) Florida businesses.”
Since the launch of RJ Young’s technology vertical in 2019, the company has grown that side of the business by 360%. Last year, RJ Young introduced its one-stop for technology solutions called the Modern Office – the company’s response to the market’s evolving needs amid workplace shifts initiated by the pandemic. Since then, RJ Young has gone through a rebrand that speaks to the Modern Office, complete with a new website and logo.
About Oval Partners
Oval Partners is a multi-family office investment firm designed to provide liquidity, growth, capital and acquisition funding to founders of growing businesses across North America. Oval’s capital base is permanent—it is committed, unencumbered and unconstrained in terms of holding period. Oval offers the capabilities and capital of a private equity fund, but the mentality, partner orientation and investment time frame of a private holding company. Oval’s principals have completed more than 75 transactions involving platform investments, acquisitions, exits, and re-financings. Oval focuses on making investments in the tech-enabled services, information services, internet, software/SAAS, and industrial technology markets. FlexPrint embodies the essence of Oval’s targeted “buy and build” strategy in attractive, service-oriented, niche end markets. For additional information, contact Dan Ruhl.
About Flex Technology Group
Flex Technology Group provides customized office technology solutions for national and leading-edge regional companies. The company focuses on print, document management, document production and managed IT solutions, representing industry-leading suppliers such as Canon, Ricoh, Konica Minolta, HP, Lexmark, Sharp, and various software solutions. FTG services over 35,000 customers nationally.
About Standard Office Systems (SOS)
Standard Office Systems (SOS) is an Atlanta-based technology services company providing copiers, printers, communications, and IT services. Since 1964 their team of professionals has helped companies of all sizes in Atlanta and throughout the country.
About Doing Better Business
DBB is a family and women-owned business with 10 locations and 100-plus employees across Maryland, Pennsylvania, Ohio, Virginia and West Virginia. DBB is the leading regional provider of office technology, document and print management solutions and cloud architecture and administration. DBB is an authorized Canon, HP, Ricoh and Sharp technology solutions provider.
About RJ Young
RJ Young is an industry leader that provides technology solutions that power businesses. RJ Young helps small to enterprise-level organizations transition into modern workplaces and increase productivity with comprehensive managed IT solutions, office equipment and technology, business process outsourcing and digital communications. Headquartered in Nashville, Tennessee, RJ Young has been partnering with businesses since 1955 and has more than 600 team members in more than 30 sales and service locations across nine states.