Oval Partners Acquires Second Dealer this Month
Last week, Oval Partners, a San Francisco-based multi-family office private-equity firm, acquired Caltronics Business Systems, an independent office-technology dealer in California, and on December 18th announced a new acquisition, Flo-Tech, a national provider of managed print services.
Flo-Tech, founded in 1992, is headquartered in Middletown, Connecticut. It’s said to be a pioneer in Managed Print Services with over 25 years of delivering enterprise solutions to customers nationally. The firm specializes in printing, imaging, and document-driven processes, from predictive service and fleet-management, to policy based security, mobile printing, and document management.
“We are excited by the growth opportunities that are in front of us by joining forces with Oval Partners and FlexPrint LLC,” commented Flo-Tech CEO and founder Leo Bonetti. “We’ve been familiar with Frank Gaspari, Tom Callinan, and the FlexPrint operations for quite some time, and their industry prowess were strong motivating drivers of our interests. Our complementary business philosophies, solutions offering, industry expertise, and national footprints will significantly enhance our customer’s experiences and provide increased opportunities for all of our team members.”
“The addition of Flo-Tech to the FlexPrint LLC portfolio of companies is a major development in our space and significantly enhances our offerings to our national customer base”, states Frank Gaspari, CEO of FlexPrint LLC. “Leo and his entire team are highly respected in the managed print services space and we are excited to combine our strong cultures of collaboration, with leading customer-centric workforces, to elevate the value we provide to our clients. With this acquisition, FlexPrint LLC now has revenues of over $200 million with a diverse pipeline of new partner candidates for 2018.”
- December 2017: Private-Equity Firm Oval Partners Makes Strategic Investment in Caltronics Business Systems