Office Equipment Acquisition: Loffler Buys Reardon Office Equipment
- This is M&A deal 349 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
- Also, see M&A activity involving office equipment dealers here.
Loffler acquired the copier and printer service and supply division of the Reardon, while Innovative Office Solutions acquired the furniture division, Loffler said.
Based in Moorhead, Minnesota, Reardon provides office equipment to the Fargo-Moorhead area and its surrounding communities. The company was founded in 1968, according to its website.
Loffler is headquartered in Bloomington, Minnesota. The company’s offerings include copiers and printers, business security systems, document management and workflow, unified communications, managed IT services, cloud services, and more. This acquisition will expand those offerings to Reardon’s clients, according to Loffler.
Reardon’s sales and service workers will join Loffler, the company said. Actual headcount figures were not disclosed.
Loffler’s Reardon Acquisition: Executive Insight
Jim Loffler, Loffler Companies founder and CEO, commented on the deal:
“We welcome the Reardon Office Equipment team to Loffler Companies. We know they hold the same core values as we do for client care and integrity, which makes this a great new partnership. We’re looking forward to meeting and working with their loyal clients to provide opportunities for them and new clients to leverage the integrated suite of managed business technology and services Loffler provides.”
Greg Reardon, president, Reardon Office Equipment, said:
“We are incredibly grateful to our Reardon Office Equipment clients for their loyalty over the past 52 years and are excited to continue working with and serving them as part of the Loffler team. We’re confident our clients and other organizations in the communities we serve will benefit from the robust suite of business technology and services Loffler provides, as well as their excellent, nationally recognized service and support.”
Loffler’s Growth Trajectory
Loffler bills itself as the largest privately-owned technology and managed services company in the Upper Midwest, though actual revenue figures are not disclosed. Loffler started out as an office equipment reseller, but more recently began moving aggressively into the technology services side of the market.
This is the company’s second deal of the year, previously acquiring MinnDak Computer Services (MCS) of Fargo, North Dakota in July 2020. Previous deals saw the acquisitions of Optimum Communications Corporation in June 2018 and Copier Business Solutions in November 2016.