June 11, 2018
Together with Oval Partners, the company explains that it has created an acquisitive partnership model that is both “unique” and “attractive”.
The Arizona-based business explains that “Merger and acquisition activity in the office technology industry is heating up”, due to several crucial contributing factors. With print “on the decline” in North America, FlexPrint reveals that the focus for growth now is “gains in market share”, and OEMs “have been migrating their marketing and sales efforts to expand and support their dealer base, and dealers are trying to expand their scope and geographic footprint to gain economies of scale.”
“One of the more interesting stories in the industry lately involves the influx of new capital from private equity and venture capital groups. Investments have followed a rainbow of different models, but the impact is undeniable. Capital spurs growth and growth is becoming more and more elusive in the channel,” states Patricia Ames, President and Analyst at BPO Media. “FlexPrint has been at this game longer than most, and one of the recent dealerships to join the Flex Technology Group team are the MPS specialists at Flo-Tech out of New England. I had the opportunity to sit down with Leo Bonetti, founder and chairman emeritus of Flo-Tech, to talk more about why this was a good move for them specifically and how they see the channel evolving going forward.”
“It is exciting to be part of the Flex Technology Group executive team. Even though we generate over $250 million (€212 million) in revenue, the enthusiasm and excitement make it feel like a start-up organization,” said Leo Bonetti, founder and chairman emeritus of Flo-Tech. “Each core company operation is run independently, but we share ideas across all companies to help each of us improve our results and to create and provide more opportunities for our employees. I love that I get the information and support and I have to admit that the competitiveness of being ranked against the other companies in the group makes me want to be at the top of the charts. It’s what many companies get from peer groups, only this is on steroids because each of you are stockholders in the company, so you have a shared vested interest.”
A full interview between Ames and Bonetti can be read here.
Categories : Around the Industry