Flex Technology Group and Oval Partners have invested in Laser Technologies Service. Financial terms weren’t announced. Laser Technologies, of Concord, Massachusetts, is an office technology provider.
Flex Technology Group Makes Strategic Investment in Laser Technologies Service to Expand Market Share in New England Region
Laser Technologies to roll under Flo-Tech to further national expansion initiative
PHOENIX, Sept. 18, 2019 /PRNewswire/ — Flex Technology Group and Oval Partners today announced a new partnership with Laser Technologies Service, a leading office technology provider based in Concord, Massachusetts.
Founded in 1999 by John Toomy and Claudel Jeannot, Laser Technologies has become a primary service provider for businesses based in the Greater Boston area. The company has earned recognition as an HP Gold Imaging and Printing Partner by establishing expertise in managing large corporate printer fleets. Today, Laser Technologies provides leading-edge office technology like copiers, printers, and document management software.
“We are excited to welcome Laser Technologies to our growing family,” states Frank Gaspari, CEO of Flex Technology Group. “This new partnership, coupled with Flo-Tech’s existing coverage, will greatly fuel our expansion in the Northeast.”
“Our partnership with Flex Technology Group allows us to accelerate our growth initiatives and increase opportunities for our employees,” states John Toomy, president of Laser Technologies. “Flex Technology Group has the experience and expertise to accelerate our business rapidly and Flo-Tech offers us additional capacity to expand nationally.”
Laser Technologies will roll under Flo-Tech but will continue to operate independently while leveraging the resources of the combined group. Laser Technologies’ executive team will remain in their leadership roles to ensure the company’s continued success in serving its customers, employees and the Greater Boston community.
About Flex Technology Group
Flex Technology Group provides customized office technology solutions for national and leading-edge regional companies. The company focuses on print, document management, document production and managed IT solutions, representing industry-leading suppliers such as Canon, Ricoh, Konica Minolta, HP, Lexmark, Sharp, and various software solutions. FTG services over 60,000 customers nationally. For additional information, please visit www.flextg.com.
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 time frame 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. FlexPrint 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 or contact Dan Ruhl at Dan@OvalPartners.com.
About Laser Technologies Service, Inc.
Since 1999, Laser Technologies Service, Inc. has been making offices more productive and efficient in the Greater Boston community. They started as an office supply store and became a major office technology dealer based in Concord, Massachusetts. They are involved in Rotary International and the Chamber of Commerce and are a regular sponsor of The Children’s Hospital. Their mission is to help enable businesses to accomplish their business goals by ensuring that their office processes accelerate their business, not slow it down. They realize that it can be challenging to ensure businesses have the office technology that is right for their business and the Laser Technologies team is committed to helping clients through that process. For additional information, please visit https://www.lasertechserve.com.