Flex Technology Makes First 2020 Acquisition
Earlier this month, Flex Technology Group and partner private-equity firm Oval Partners announced they had completed their first acquisition of 2020, announcing they had purchased Ultrex Business Solutions for an undisclosed sum.
Ultrex Business Solutions has provided California with office technology solutions for over three decades, and has locations in Bakersfield, San Luis Obispo, Santa Barbara, and Ventura.
“We are pleased to announce that Ultrex Business Solutions is now part of the Flex Technology Group family of companies as we continue to aggressively expand our market share,” said Frank Gaspari, CEO of FlexPrint. “Rolf Berkefeld has developed a great team at Ultrex and we’re enthusiastic for the opportunity to build upon their already successful business model.”
“Adding Ultrex Business Solutions strengthens our collective presence in the West,” said Dan Reilly, President of Caltronics Business Systems. “We look forward to working with their great employees.”
Ultrex Business Solutions will operate under Caltronics Business Systems but will continue to operate independently. While Berkefeld will retire, the remainder of the Ultrex executive team will stay in their leadership roles.
- September 2019: Flex Technology, Oval Partners Invest in Laser Technologies
- September 2019: Flex Technology, Oval Partners Acquire Ohio Dealer
- August 2019: Oval Partners Invests in CBE Office Solutions
- April 2019: PE Firm Oval Partners Continues Expansion in Southwest
- January 2019: Oval Partners Acquires Ricoh Dealer Shamrock Office Solutions
- January 2019: Oval Partners Forms New Partnership with Konica Minolta Dealer