One of the most prolific M&A jags in recent history continued late last week, as DEX Imaging acquired Hendrix Business Systems of Mathews, North Carolina. It was the eighth acquisition this year for the Tampa, Florida-based firm.
Hendrix, which was recently named a 2022 Elite Dealer by ENX Magazine, is a Canon, Sharp and HP carrier with 47 employees. The company has experienced significant growth in large- and wide-format imaging equipment, and recently expanded its catalog to include telephony, specialty printers and mailing solutions. It registered sales of approximately $15-$20 million last year.
In addition to its Matthews headquarters, Hendrix has North Carolina branches in Raleigh and Greensboro. Founded in 1976, it was led by Roger Hendrix. DEX’s 2022 acquisition tally includes Imaging Concepts, Business Machine Products, BMC Office Technology, BizDoc, CopyNet, Meritech and Gulf Business Systems.
At more than $30 million in annual revenue, Cleveland-based Meritech is believed to be DEX’s largest deal this year.
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About DEX Imaging
DEX Imaging is the digital document imaging arm of Staples, the world’s largest business solutions provider. DEX sells and services the broadest selection of copiers, printers and data management solutions in the industry, such as Konica Minolta, Canon, Kyocera and HP, with annual revenue exceeding $350 Million. What makes DEX unique is its people, whose combined knowledge of cutting-edge business technologies and depth of service experience are unmatched. DEX Imaging’s success is directly tied to its mission: to help customers of all sizes drive down document-related expenses while improving productivity.
