PHOENIX, ARIZONA (December 18, 2017) – Oval Partners, a San Francisco based multi-family office private equity firm, today announced an exciting new partnership with Flo-Tech, an award winning national provider of managed print services, who has been recognized on numerous occasions for their innovations in the delivery of national managed print solutions.
Flo-Tech, founded in 1992, is headquartered in Middletown, Connecticut. Flo-Tech is a pioneer in Managed Print Services with over 25 years of delivering enterprise solutions to customers nationally. They’re experts at printing, imaging and document driven processes, from predictive service and fleet management to policy based security, mobile printing and document management. Flo-Tech helps enterprise clients achieve company-wide efficiencies and performance improvements across their printing and imaging fleets and related business processes.
“We are excited by the growth opportunities that are in front of us by joining forces with Oval Partners and Ultrex LLC,” states Leo Bonetti, Chief Executive Officer and Founder of Flo-Tech. “We’ve been familiar with Frank Gaspari, Tom Callinan, and the Ultrex operations for quite some time, and their industry prowess were strong motivating drivers of our interests. Our complementary business philosophies, solutions offering, industry expertise, and national footprints will significantly enhance our customer’s experiences and provide increased opportunities for all of our team members.”
“The addition of Flo-Tech to the Ultrex LLC portfolio of companies is a major development in our space and significantly enhances our offerings to our national customer base”, states Frank Gaspari, CEO of Ultrex LLC. “Leo and his entire team are highly respected in the managed print services space and we are excited to combine our strong cultures of collaboration, with leading customer-centric workforces, to elevate the value we provide to our clients. With this acquisition, Ultrex LLC now has revenues of over $200M with a diverse pipeline of new partner candidates for 2018.”
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. Ultrex 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.
Ultrex 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.
Flo-Tech, founded in 1992, is an award winning national managed print services provider recognized for innovations in delivery of managed print solutions and the business value they provide to organizations across the country. From predictive service to fleet management to policy based security, mobile printing and document management, Flo-Tech is helping clients achieve efficiencies and performance improvements across their printing and imaging fleets and related business processes. For additional information, please visit www.flotech.net.