Flex Technology Group Acquires Maryland Dealer
Flex Technology Group (FTG) recently announced that it’s acquired Advance Business Systems, an office technology and solutions provider based in Baltimore, Maryland, for an undisclosed sum.
Founded in 1964, Advance Business Systems provides managed IT services, office printers and copier/MFPs, production printers, managed print services, document-management solutions, and software enhancement. The company serves customers throughout the greater Mid-Atlantic region and across the nation out of its corporate headquarters in Baltimore.
With the acquisition, Advance Business Systems President Jeff Elkin and the company’s 130 employees will join Flex Technology.
Frank Gaspari, CEO of Flex Technology Group (FTG), said that with the this acquisition, Flex Technology’s revenue now exceeds $400 million, and noted: We have a strong pipeline of great dealers looking to join FTG. Our national sales platform continues to fuel our organic growth. The future is exciting at FTG, and I look forward to the opportunities it will create for our 1300 plus employees.”
John Knoll, co-founder of Oval Partners, FTG parent company, said the acquisition was part of Flex Technology Advance’s best-of-breed acquisition strategy, noting: “Combining the local presence of our copier dealer partners that have joined Flex with the nationwide coverage and capabilities of FTG is a powerful combination that has benefited all our customers. This is an exciting continuation of that strategy.”
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