Private-Equity Firm Oval Partners Makes Strategic Investment in Caltronics Business Systems
Oval Partners, a San Francisco-based private equity firm, today announced its investment in Caltronics Business Systems, an independent office technology dealer with 12 offices throughout Northern California and Arizona.
Oval focuses on making investments in the tech-enabled services, information-services, Internet, software/SAAS, and industrial-technology markets. It acquired managed print services (MPS) provider FlexPrint. FlexPrint and its family of companies provide customized office-technology solutions for national and regional companies. It focuses on print, document-management, document-production, and managed IT solutions, representing suppliers such as Canon, Ricoh, Konica Minolta, HP Inc., Lexmark International, and various software solutions, serving some 20,000 customers nationally.
Headquartered in Sacramento, California, Caltronics has been providing office technology for over 40 years. For seven years running, Caltronics has been recognized as a national “Top 50 Dealers” by OfficeDealer Magazine for customer service and support. It’s also ranked among Konica Minolta’s top dealers in the United States.
“We are very excited to join forces with Oval Partners and FlexPrint, LLC in our next phase of growth,” commented Caltronics CEO Dan Reilly. “We see a significant opportunity to expand our market share and enhance our service offerings through our partnership with FlexPrint, LLC, providing more opportunities for our employees and more choices for our customers. Oval’s unique ability to partner with founders and entrepreneurs is quite evident as they collaborate with Frank Gaspari and team to capitalize on a very attractive market opportunity that exists today in our industry.”
“This investment marks an important milestone for FlexPrint LLC,” stated Frank Gaspari, CEO of FlexPrint LLC. “We are pursuing and executing on an aggressive expansion plan and the addition of Caltronics to our portfolio of partner companies speak volumes to how unique and dynamic this initiative is.”
Dan Reilly, who will be an equity holder in FlexPrint, LLC, as well as the entire Caltronics executive team, will remain in their current leadership roles.
- January 2017: HP Awards FlexPrint’s Managed Print Solution ‘Best in Class”
- November 2013: Konica Minolta Recognizes Top U.S. and International Dealers