DEX Acquires Sharp-Dealer Modular Document Solutions in ‘Largest Acquisition to Date’
Earlier this month, DEX Imaging, the largest independent document-imaging dealer in the U.S. Southeast, reported that it had acquired Modular Document Solutions for an undisclosed sum.
According to DEX Imaging, Modular Document Solutions is a $30 million Sharp dealership that operates in 15 locations throughout Florida. With the addition of Modular, DEX says it’s reached its $250 million revenue goal for 2016.
DEX Imaging CEO Dan Doyle Jr. commented: “This is our largest acquisition to date, the impact of which expands our product offerings overnight, increases our service manpower throughout the state of Florida, and lays the groundwork for immediate growth into the Carolinas.”
Modular’s principals, Bill Sprecher and Marty Maddox, will lead the newly formed DEX of the Carolinas. DEX Imaging says that both executives have had long careers in the document-imaging industry, including associations with The Hillman Company, Danka Industries, and Toshiba.
Doyle added, “Bill and Marty have a proven track record of building pro table, growth oriented businesses. With the full support of our vendor partners, they will expand the DEX footprint, first in Charlotte in September, and then into all other major markets throughout North and South Carolina.”
Sprecher said, “The initial DEX Carolina team has already been formed and includes some of our best sales, service, and administrative people. We will be introducing the complete suite of DEX Solutions to our Carolina customers: state-of-the-art equipment, award-winning service, PrintCounts Managed Print, DEXDOX Professional Services, and Facilities Management.”
DEX Imaging is said to be largest independent dealer of document-imaging equipment and content-management software in the eastern United States, with 2015 revenues exceeding $200 million. The company sells and services Konica Minolta, Canon, Kyocera, HP, and now Sharp copiers and printers. Founded in 2002, the company has grown to 34 branch locations with over 1,000 employees, and has “rapid expansion plans” to become the “preeminent independent” imaging dealer in the United States by 2020.
- June 2015: DEX Imaging Acquires Managed-Print Services Provider TotalPrint
- May 2013: Copier/MFP Dealer DEX Imaging Acquires Two Florida Dealers