Gamut Capital Management is acquiring DEX Imaging from Staples for an undisclosed amount.
This is technology M&A deal number 106 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
Gamut Capital Management, founded in 2015, is a private investment firm based in New York that manages over $3 billion in assets, focusing on middle market opportunities.
DEX Imaging, founded in 2002, is based in Tampa, Florida. The company has 1,007 employees listed on LinkedIn. DEX’s areas of expertise include document imaging equipment, workflow processes, data archiving, and data disaster recovery.
DEX was acquired by Staples in 2019. At the time, Staples said it was attracted to DEX as an acquisition target based on its strong relationships with their customers through their service and industry knowledge in office technology.
Gamut says it plans to continue expanding the company and making strategic enhancements.
Following the acquisition, Sam Powell and Stan Parker, founding partners at Gamut, will join the DEX board of directors. Their involvement is expected to support the strategic direction and facilitate further expansion, the firm said.
Gamut Acquires DEX: Executive Commentary
Dan Doyle Jr., CEO, DEX, commented:
"Since Staples acquired DEX, their team has been a great partner, helping drive growth and positioning us for our next chapter. Our family is pleased to again take an ownership stake in the business we founded, and we look forward to working alongside the Gamut team to further strengthen our relationships with suppliers and enhance our service capabilities, ensuring DEX continues to set industry standards in customer satisfaction and technological innovation."
Sam Powell, partner, Gamut, said:
"We’re eager to partner with the Doyle family, a name that has represented excellence in the industry for nearly five decades. Together, we aim to build a national presence through strategic acquisitions and organic growth, leveraging the strong foundation laid by the Doyles. This partnership embodies our commitment to invest in and enhance businesses with solid market potential and proven leadership to enhance long-term value creation."
