Oval Partners Expands Portfolio with Strategic Investment in Action Imaging Group
Ultrex’s growth strategy continues with 4th acquisition in the last 10 months
PHOENIX, ARIZONA (July 31, 2017) – Oval Partners, a San Francisco based private equity firm, has announced an investment in Action Imaging Group (AIG). AIG is a leading office technology company based in Tucson, Arizona with decades of experience in the office automation industry supporting Ricoh, Kyocera, Samsung, and HP products.
“We are extremely excited to join the Ultrex and Oval Partners team”, states Walter Thomas, Managing Partner at Action Imaging Group. “Both Jeff Woloshin and I look forward to the benefits this new partnership will bring to our entire team to further reinforce our market leading position.”
“Action Imaging Group has built a great reputation in the Southern Arizona marketplace,” states Frank Gaspari, CEO of Ultrex LLC. “This investment aligns perfectly with our growth strategy and we look forward to working with Jeff and Walter and their entire team. The synergies between AIG and our portfolio of companies will pave the way for further successful growth.”
This announcement marks the fourth acquisition in ten months for Oval Partners and Ultrex. In September 2016, Ultrex acquired Laser Options, a top-of-the-line, full-service business technology organization specializing in Managed Print Services. In November 2016, Ultrex acquired ProCopy Office Solutions, a trusted document imaging products and solutions provider that helps reduce the complexity associated with technology selection. In February 2017, Cannon IV, which is a leading independent Managed Print Services (MPS) provider and reseller of imaging and printing solutions based in Indianapolis, also joined the Ultrex Family.