We could see it coming, but the first week of 2022 was greeted with the announcement of three acquisitions on the dealer side and another involving distributors. The M&A parade was so long, we’ve included separate announcements in our news section for a banking/leasing transaction and another on the sale of a software solution that created a stand-alone firm.
The year-opening bonanza sees Doing Better Business acquiring Canton Business Machines. Eakes Office Solutions added OfficeNet Inc., while Frontier Business Products shopped locally to obtain Metro Copier Services. In a deal between two distributors, ACM Technologies picked up Royal Imaging International. We also have separate announcements for CIT Group’s merger with First Citizens, and manufacturer EFI divesting its eProductivity Software business to a Symphony Technology Group affiliate, creating a stand-alone company.
Doing Better Business (DBB), a leading regional provider of office technology, document management, imaging and managed print and IT services based in Altoona, Pennsylvania, announced that it has completed the strategic acquisition of Canton Business Machines, based in Canton, Ohio.
The company will operate as Doing Better Business formerly CBM, and current President Jim Spoerndle will continue to lead the operations at this location.
According to Joseph Dellaposta, COO of Doing Better Business Inc., “Jim and his team have been working with our DBB family for years because of close relationships within our Boardman office. We agreed the time is right for us to join forces and continue our expansion and growth into the Cleveland-Akron-Canton Metro area.”
Both management teams agree that the acquisition will take both organizations to the next level of success.
Jim Spoerndle, President of CBM, adds, “Doing Better Business brings a real depth of capability for our clients with the infrastructure to provide best in class capabilities and services. We are especially excited about having access to their document management and managed print specialists and to bring large format and production print opportunities to our clients. This is very positive news for CBM employees and our clients.”
“Since 1961, CBM has grown to become a respected office equipment dealer in Northeast Ohio, with an excellent reputation for customer service excellence and innovative solutions. Similarly, the Dellaposta family has been a leader in this industry for almost 50 years. We’re very excited about our future together,” says Spoerndle.
Eakes Office Solutions-OfficeNet Inc.
Eakes Office Solutions is excited to announce OfficeNet Inc. of Fremont, Columbus and Grand Island, Nebraska, will be joining the Eakes team. OfficeNet has been locally owned and operated for over 67 years, serving the office products, copier, furniture, and cleaning supplies needs of businesses in eastern Nebraska.
Zygoquest Group served as the advisor to OfficeNet and its majority owner, Russ Hoetfelker, on the sale of assets to Eakes Office Solutions.
“I want to thank our customers across the state for their incredible support over the years. I’m confident in Eakes’ ability to take care of all of our loyal customers moving forward.” Hoetfelker said.
Although Hoetfelker retired at the end of December, customers will continue to see some familiar faces from OfficeNet joining the Eakes team.
“Russ and his team at OfficeNet have provided a high level of customer service to many Nebraska communities for a long time. We take customer care seriously, and we look forward to continuing that tradition while expanding products and services in the area,” said Mark Miller, president and CEO of Eakes.
Eakes Office Solutions has 14 office locations across Nebraska, serving Nebraska, Wyoming, Colorado, South Dakota, Iowa and Kansas.
Frontier Business Products-Metro Copier Services
Aurora, Colorado-based Frontier Business Products announced the recent acquisition of Metro Copier Services, a technology dealer also headquartered in Aurora.
“This acquisition allows Frontier to gain greater density in our current footprint and provide our world-class service to the Metro customers in the Greater Denver marketplace,” said Carol Mitschke, president of Frontier Business Products.
Metro Copier Services has more than 30 years of experience in the document management industry. Owner Roger Magelky believes the deal offers an exciting opportunity for Metro.
“Our customers will benefit from their expertise in the marketplace while maintaining our core values of integrity and excellence,” Magelky said.
The companies’ combined 10,000 customers will provide more value with a larger infrastructure, increased support to a growing customer base, and significantly expanded the allocation of resources that further enhance customer support and satisfaction, as a result of this acquisition.
ACM Technologies-Royal Imaging International
ACM Technologies Inc., a leading distributor of imaging equipment and supplies, is proud to announce its acquisition of Royal Imaging International, a wholesale distributor of office imaging supplies with over 40 years of experience in the industry.
The combination of the two companies will provide significant benefits to customers in the form of an expanded distribution footprint, increased product selection, enhanced service levels, and cost savings from improved economies of scale.
“We are thrilled to bring Royal Imaging on board. We have been a long-term partner of Royal Imaging for the past 30 years, and greatly admire the business that has been built. With the combined entities, we will be able to provide a breadth of product and service that is unmatched in the industry” said Ben Lin, president of ACM Technologies Inc.
“After a significant amount of time spent looking for the perfect partner, the only choice was ACM Technologies, another family-owned business with the same standards for creating the best possible customer experience. Royal Imaging International’s customers will have the benefit of state-of-the-art technology and software platforms, increased distribution facilities and the buying power of the combined entities. I look forward to joining the ACM team as Director of Global Sales,” states Tom Ghyczy, president and CEO of Royal Imaging International.
Royal Imaging International will retain its current leadership and staff. Efforts to fully integrate the two companies will begin immediately in order to provide the customer base of both companies with the value add and synergies of a combined entity.
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About Doing Better Business
Doing Better Business is a family and women-owned business with eight locations and almost 100 employees across Maryland, Pennsylvania, Ohio, Virginia and West Virginia. For more information, please contact DBB at (800) 456-1977 or via email.
About OfficeNet
OfficeNet Inc., headquartered in Fremont, Nebraska with operating locations in Fremont, Columbus and Grand Island, Nebraska, was founded in 1954 under the name Fremont Office Equipment. Russ Hoetfelker, President and its majority owner, managed the day-to-day operations of OfficeNet while its management team and employees participated in ownership through an ESOP. OfficeNet was authorized: by Savin to sell and service the full line of digital copiers, printers and MFPs; and was a Brother Workhorse dealer; an HP Amplify Partner; an SP Richards office supplies and furniture dealer; and a HON furniture dealer.
About Eakes
Eakes Inc., headquartered in Grand Island, Nebraska and founded in 1945, started as an office equipment company that has grown into one of the largest independently-owned office products dealers serving the Midwest. Eakes operates from 14 locations across Nebraska that provide service to Nebraska, Iowa, Kansas, Colorado and South Dakota. Eakes is authorized by Sharp and Ricoh to sell and service the full line of digital copiers, printers & MFP’s. In addition, Eakes sells office furniture, office supplies and janitorial supplies.
About Frontier Business Products
Frontier Business Products specializes in managed IT services and print/copy solutions for businesses across the U.S. We offer a full line of office technology from Ricoh, Sharp and HP and provide services including 24/7 remote monitoring and administration of networks, service desk, and data backup and restore to improve business processes across a variety of industries. The company is headquartered in Aurora, Colorado.
About Zygoquest Group and Mike Dudek
Mike Dudek, an attorney and CPA, is the owner of Zygoquest Group “seeking to unite” which provides customized merger and acquisition services to buyers & sellers of companies. Zygoquest is the No. 1 M&A authority in the office products industry. Dudek and Rich Wisniewski are authors of over 500 consummated M&A transactions including many technology services acquisitions during their careers. Prior to founding Zygoquest, Dudek was vice president of acquisitions for IKON Office Solutions, a $5.5 billion NYSE company acquired by Ricoh Corporation. Dudek has evaluated transactions ranging from the smallest transactions to the largest deals in the office products industry – from million-dollar deals to multi-billion-dollar deals. The Zygoquest website contains deals you will recognize.
About Law Office of Mike Dudek
Mike Dudek also owns the Law Office of Mike Dudek which provides owners and executives with customized and affordable legal services on mergers and acquisitions and other complex business transactions.
About ACM Technologies Inc.
ACM Technologies Inc. is a national distributor of OEM and compatible parts, supplies, and equipment. In addition, ACM also distributes one of the largest assortments of remanufactured and compatible laser cartridges in the industry. Established in 1989, ACM offers the most comprehensive selection of imaging supplies in the business equipment industry. With multiple distribution centers in the U.S., ACM promises high product availability, fast shipping times, competitive pricing, and exceptional customer service.
About Royal Imaging International
Royal Imaging was founded in 1979 as a distributor in the office products channel. The company evolved into the consumable supplies market in the early 1980s and now carries over 7,000 SKUs for OEM and compatible imaging supplies.
