Flex Technology Group (FTG) has made its second acquisition of the week, buying Concord, Massachusetts office technology provider Laser Technologies Services.
Flex, a national managed print services provider backed up by private equity firm Oval Partners, also acquired Ohio-based Millennium Business Systems, the companies disclosed this week.
Laser Technologies, founded in 1999, has gained recognition as an HP Gold Imaging and Printing Partner, providing services to businesses in the Greater Boston area. The company offers office technology including copiers, printers, and document management software.
Laser Technologies will be rolled into Flo-Tech, a subsidiary operated by FTS, though it will continue to operate independently. Laser Technologies’ executive team will remain in their leadership roles, the company said.
Frank Gaspari, CEO of Flex Technology Group, commented on the latest deal:
“We are excited to welcome Laser Technologies to our growing family. This new partnership coupled with Flo-Tech’s existing coverage will greatly fuel our expansion in the Northeast.”
John Toomy, president of Laser Technologies, added
“Our partnership with Flex Technology Group allows us to accelerate our growth initiatives and increase opportunities for our employees. Flex Technology Group has the experience and expertise to accelerate our business rapidly, and Flo-Tech offers us additional capacity to expand nationally.”
Flex Technology Group’s Ongoing Growth
Since 2016, FTG has been growing quickly. Previous to this week’s pair of acquisitions, the company acquired Southern California office technology provider CBE Office Solutions.
FTG was founded in Mesa, Arizona in 2005. In 2015, founder Frank Gaspari joined with Oval Partners to build out a national group of print dealers that would serve enterprises and major accounts around the United States.
FTG now boasts a portfolio of 15 office technology partners that, combined, generate more than $325 million in annual revenue, according to the company. FTG has more than 1,000 employees spread throughout the United States. At the time of its last buyout, the company told ChannelE2E that it plans further expansion through acquisitions and organic growth.
