Not long ago, the narrative behind Thomas Fimian was that of a Swiss immigrant who became a successful U.S. business owner at the helm of an office technology dealership in South Carolina. That’s an uplifting tale embodying entrepreneurial spirit, regardless of the industry. Still, don’t close the book on this happily-ever-after story, because Fimian’s journey has a second act that may prove more compelling than the original.
Until about a month ago, Fimian was the CEO of DocuGraphics, a Xerox and Kyocera dealership based in Charleston, South Carolina. The company underwent a rebrand to Levifi, accompanied by a bee logo and hive design (more on this shortly). But the Levifi hive will be humming louder moving forward in order to achieve Fimian’s ambitious 10-year goal to reach the $120 million plateau.
If it seems like a steep hill to climb, consider this: A mere 10 years ago, then-DocuGraphics was a $3 million performer. Ever since the pandemic, the growth has been significant, from about $8 million in 2020 to $17.5 million in 2023. Granted, the company saw a major infusion with the early 2023 acquisition of Custom Cloud Solutions (CCS), a Columbia-based managed IT and cloud solutions provider. But Fimian is following the numbers, and they suggest a legitimate path toward achieving that magic number of $120 million.
“We have the track record of being able to scale the growth,” Fimian said. “Looking ahead, that long-term financial goal of becoming a good-sized workplace technology provider isn’t that far-fetched. If you’re not investing in your business, not making at least 10% in net profit, you’re moving backwards and treading water. A lot of the investments are paid with profit. If you don’t have any profit, you cannot afford to have a warehouse that’s nicely stocked or have money set aside to do an acquisition.
“If we say we want to become a $25 million company in 10 years, that’s an out-of-business strategy. We need the consistent growth that’s scalable and sustainable in the long run.”
Levifi has grown significantly from its humble beginnings as a Xerox agency of four people. The company transitioned to a full-scale dealership and now boasts 80 employees in nine branches across the Carolinas and Georgia. Managed IT continues to play a growing role in the company’s success, accounting for 20% of its overall and 30% of its service revenue. The dealer offers a host of cloud migration services, and the CCS deal has added even more firepower.
In an industry ripe with private equity acquisitions and consolidation, Levifi is committed to independent growth. Without reliance on outside capital, Levifi is on a journey to build a lasting and sustainable organization for years to come. Independence allows the dealer to retain full control over its operations, decision-making processes, and long-term vision. It fosters agility, enabling swift responses to market changes without external interference. This aligns with a commitment to Levifi’s core values and mission, avoiding potential conflicts that may arise from aligning with the priorities of private equity investors.
In addition to the black-and-white and color units from Xerox and Kyocera, Levifi provides production solutions, large-format devices from Canon, and Xante flatbed and industrial UV printers, along with finishing products from MBM (cutters, trimmers, folders, booklet makers), Duplo (booklet makers) and Graphic Whizard (UV coaters). Levifi also offers content management software (DocuWare and customized SharePoint applications), Skyline Storefront web-to-print and a publishing solution from ePrint.
The dealer also provides a host of video surveillance, alarm and access control systems from Verkada, as well as VoIP phone systems backed by Yealink hardware and 3CX software. Newline interactive display solutions are also an element of the dealer’s expansive portfolio, which is driven by white-glove service.
Levifi targets businesses with 10-plus “knowledge workers,” according to Fimian. Its leading client verticals are legal, real estate, religious organizations, health care, accounting, manufacturing, K-12/higher education and local government. In-plant operations and businesses with print centers are also viable clients.
Managed IT Gateway
There’s no denying the impact of last March’s acquisition of CCS, a $2 million firm. The 90 new managed IT customers the deal onboarded perhaps paled in comparison to the 20 talented technology professionals who joined the team. Competition for hiring talented IT professionals can be fierce, depending on geography, so ensuring all talent would transition to Levifi was no small consideration. Still, the accompanying network operations center, IT help desk and data center combined to boost the maturity level of Levifi’s managed IT proposition.
“We went from a one-year old offering that was barely able to walk and without really having an idea of where we were going, to offering a very critical value proposition and a well-thought-through approach to running the IT side of the business,” Fimian noted. “We’d seen the value in it, but it took us about a year to get just three clients. And everything else but the sales and vCIO was outsourced; it was [ConnectWise] providing white-label service.
“With the acquisition, we had instant access to well-managed customers, a sophisticated and innovative NOC, great help desk, their own data center—all the individual components you need to operate a managed IT company were in place. It would have taken us years to develop those competencies. They’ve been profitable and a positive contributor to the business from day one.”
The deal itself, from initial overture to completion, took about 12 months. However, after just three months of talks, Fimian could tell they matched up well. CCS was about as far along in offering printers to its IT clients as Levifi was in introducing IT to its client base, so Fimian is still at the tip of the cross-selling iceberg. Interestingly, the connection was made after CCS tried to poach one of Fimian’s salespeople. Since Levifi was just getting its feet wet with IT, Fimian reached out to the CCS owner to pick his brain. Fimian traded his knowledge of print in return. The more they talked, it became clear that combining operations was a viable alternative.
The deal was the fifth completed by Fimian since he transformed the company from a Xerox agency to a full-fledged dealership, but it represented the first in which Levifi wasn’t simply buying market share. He’s open to adding IT services companies within Levifi’s traditional service area. On the imaging end, he’ll entertain overtures from other Xerox/Kyocera dealers that complement the firm’s geographic footprint.
Production Prowess
Levifi seems to have found a sweet spot in the mid-level of production printers. The offering constitutes 20% of the overall business, and Fimian feels it’s a hedge against the decline in the general office printing environment. Back when the firm was a Xerox agent, it had access to the OEM’s full production catalog without having to worry about servicing the machinery. It didn’t take long for the sales force to become adept at identifying, developing and closing production-based deals. Once Levifi became a full-fledged dealer, it continued to focus on the middle class of machines.
“We’re stronger in the secondary markets as opposed to big cities, so there are fewer big-iron opportunities compared to the entry-level and mid-level production,” he noted. “Historically, we’ve been strong with the print-for-pay clients. We’re trying to migrate into the in-plant environments, marketing departments, print shops and schools—environments where we’re not competing just for the lowest cost per click.”
Similarly, Levifi has forged meaningful relationships with clients by helping them establish in-house print shops to save money on printing jobs that have traditionally been outsourced while making the customers more productive in the process. The production units enable schools and marketing departments to convert what was once a cost center into a profit center.
Yet another growth driver for Levifi began in 2022 when the company embarked on implementing the Entrepreneurial Operating System (EOS). Fimian says the move has provided the most impactful relief to his company’s growth challenges through a process that’s more logical, repeatable and scalable. The Traction model Levifi follows offers a framework for short- and long-term goal setting and organizing/bringing clarity to the processes at the core of the business. It also helps ensure all team members are aligned with the company’s goals and values.
As Fimian observed, “It’s holding yourself accountable for what you’re doing and where you’re going.”
One of the long-term goals Fimian has is to implement a new enterprise resource planning (ERP) solution, one that does a better job than the most current popular title of serving dealers that rely on both imaging and IT. He pointed to Microsoft Dynamics as an inspiration to possibly devise a home-grown ERP, perhaps spawning a scalable solution for other workplace technology businesses to leverage.
Rebrand Buzz
It’s become increasingly fashionable for dealers to rebrand, as their former names either connoted older technology or didn’t accurately reflect the totality of a company’s product and service catalog. Fimian felt “DocuGraphics” pigeonholed his firm to the imaging business. While Levifi (pronounced Levy-FI) is an invented word team members selected by vote, the bee and hive logo were picked as a nod to one of the world’s first true organized work structures. It’s a reflection of the dealer’s core values: teamwork, integrity, optimism, innovation and fun.
Fimian wanted the rebrand to coincide with the company’s 10-year growth strategy. The CCS addition made it more important to take on an identity that was all-encompassing. The idea behind doing a rebrand was introduced by COO Josh Craig.
“We wanted a name that wasn’t tied to any technology or being used by anybody,” Fimian noted. “We wanted something we could build a story around and make it into whatever we want it to be. And the bee logo really fits what we’re doing in providing results to our clients. It’s a lot more memorable to have a recognizable image than just a name.”
Given the wondrous growth opportunities that CCS is affording Levifi, Fimian finds it easier to resist what he termed the “shiny objects,” those offerings that are en vogue but lack a significant track record in the dealer space. He doesn’t want to diversify for the sake of diversification and feels comfortable with its workplace technology offerings. While EV chargers aren’t in the cards, Fimian is always on the lookout for products and services in line with the core offerings.
“We don’t want to become a jack of all trades and a master of none,” he added.
The plan for 2024 is 20% growth, and with no M&A deals in the immediate future and the rebrand complete, that goal will receive full focus. With the long-term sights set on $120 million, he’s confident the conditions are ideal to make it happen.
After all, much of the heavy lifting is now complete. “We’ll focus on driving organic business growth by capitalizing on the synergies we created in the past year,” he added.
Neither Time Nor Distance Apart Could Dissuade Thomas Fimian from his Version of the American Dream
Not to be anticlimactic, but Thomas Fimian never harbored ideas about living out the American Dream. He didn’t long to become a successful businessman in the United States, nor did he enter the country with just a single suitcase and $20 to his name, driven by a burning desire to “make it big.” That sounds inspirational on paper. However, the truth is no less heartwarming.
Fimian previously sold software for businesses in his native Switzerland before taking a job as an administrative manager in a political party. That’s where he met Corina and fell in love. Fate tested them: soon after, Corina received an offer to take a job in the states—a longtime dream for her. He still had about seven months of military service obligation remaining and work projects that required completion.
As Corina boarded the plane for America, he had one thought. “I knew she was the right one.”
After tying up loose ends and finishing his military stint, the then-26-year-old Fimian took a flight to the United States seven months later. He found a sales position in Sumpter, South Carolina, got his work visa squared away and five years later purchased a Xerox agency in Charleston, South Carolina, which he called DocuGraphics.
Thomas and Corina’s love story started in Switzerland and found a home in South Carolina. They’ve been husband and wife for more than 25 years and have two beautiful daughters, Lisa and Lena.
“It was just chemistry at work,” he said. “Great instinct, I guess.”
