Oval Partners Makes Strategic Investment in Caltronics Business Systems
FlexPrint's growth strategy continues with acquisition of one of the largest office technology dealers in the United States
PHOENIX, December 14, 2017 (Newswire.com) - Oval Partners, a San Francisco-based multi-family office private equity firm, today announced a new partnership with Caltronics Business Systems, an independent office technology dealer with 12 offices throughout Northern California and Arizona.
Headquartered in Sacramento, California, Caltronics has been providing leading- edge office technology supported by award-winning service to a diverse client base 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. In addition, they are consistently ranked among Konica’s top dealers in the U.S.
“We are very excited to join forces with Oval Partners and FlexPrint, LLC in our next phase of growth,” said Dan Reilly, CEO of Caltronics. “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,” states 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 to preserve Caltronics’ successful 40-year history of serving their customers.
About Oval Partners
Oval Partners is a multi-family office investment firm designed to provide liquidity, growth, capital, and acquisition funding to founders of growing businesses across North America. Oval’s capital base is permanent – it is committed, unencumbered, and unconstrained in terms of holding period. Oval offers the capabilities and capital of a private equity fund, but the mentality, partner orientation, and investment timeframe of a private holding company. Oval’s principals have completed more than 75 transactions involving platform investments, acquisitions, exits, and re-financings. Oval focuses on making investments in the Tech Enabled Services, Information Services, Internet, Software/SAAS and Industrial Technology markets. FlexPrint embodies the essence of Oval’s targeted “buy and build” strategy in attractive service oriented niche end markets. For additional information, please visit www.OvalPartners.com.
FlexPrint and its family of companies provide customized office technology solutions for national and leading-edge regional companies. We focus on print, document management, document production and managed IT solutions, representing industry leading suppliers such as Canon, Ricoh, Konica Minolta, HP, Lexmark and various software solutions. We proudly service almost 20,000 customers nationally. For additional information, please visit www.flexprintinc.com.
About Caltronics Business Systems
Since 1975, Caltronics has been providing California with leading-edge technology and award-winning service in the document management and software solutions industry. Caltronics is a family-owned and operated company with offices throughout California and Arizona (Infincom) to serve you locally and nationwide. Today Caltronics and Infincom offer the most advanced digital copiers, high-speed color printers and copiers, multifunctional devices, fax and scanning systems, and document management software available. In fact, Caltronics has sold and installed more digital systems than any other independent dealer in the United States. For additional info, please go to www.caltronics.net.
Source: FlexPrint LLC