TotalPrint USA sheds Staples – Ready to Grow!
Introduction
The Doyle family in collaboration with Gamut Capital, has reached an agreement to purchase DEX Imaging back from Staples, Inc. This landmark deal includes the liberation of TotalPrint USA, a subsidiary of DEX, which has now shed its Staples ownership to enter a new era of growth. This partnership aims to leverage industry expertise and private equity insight to propel both DEX and TotalPrint USA into their next phases of growth.
TotalPrint USA’s New Independence
The recent announcement that TotalPrint USA has shed Staples marks a pivotal point for the managed print services provider. Freed from the constraints of previous ownership, TotalPrint USA is now positioned to "grow, grow, grow." This independence is expected to expand its service footprint, which is already the largest in the industry. This will also enhance its ability to service clients nationally with its own people, without introducing any competitors into client accounts.
A Look at DEX Imaging's Journey
Founded in 2002 by Dan Doyle Sr. and his son, Dan Doyle Jr., DEX Imaging has grown to become a significant player in the managed print services sector. With a range of solutions that include equipment, service, and supply management, DEX has built a reputation for excellence. Serving a diverse client base from small businesses to large corporations, DEX is renowned for its broad product offerings from top manufacturers, outstanding service, and a focus on optimizing document management systems for clients.
Staples and DEX: A Period of Growth
Since acquiring DEX in 2019, Staples has played a crucial role in expanding the company. This expansion was achieved both organically and through strategic mergers and acquisitions, all while collaborating closely with the founding Doyle family. "Staples has significantly contributed to our growth and prepared us for the future," commented Dan Doyle Jr., CEO of DEX. He expressed his excitement about reclaiming an ownership stake and the future collaboration with Gamut.
New Partnership Horizons
The acquisition by Gamut, alongside the Doyle family, represents a pivotal moment for DEX. Sam Powell, a Partner at Gamut, is enthusiastic about the opportunity to build on the strong foundation established by the Doyles. "Our goal is to establish a national presence through strategic acquisitions and natural growth," he stated, emphasizing the partnership's focus on nurturing, and advancing companies with market potential.
Strategic Leadership and Future Plans
As part of the acquisition agreement, Sam Powell and Stan Parker, a Founding Partner at Gamut, will join the DEX board of directors. Their involvement is set to guide DEX's strategic growth and expansion plans, aiming to ensure that the company remains at the forefront of customer satisfaction.
Financial and Advisory Details
While the financial specifics of the deal remain undisclosed, the transaction is subject to standard closing conditions. Guggenheim Securities, LLC served as the financial advisor to DEX Imaging, facilitating this significant industry move.
About the Companies
Gamut Capital Management is a New York-based private investment firm with over $3 billion in managed assets, specializing in mid-market opportunities since its establishment in 2015. DEX Imaging remains a leading independent provider of office technology in the U.S., renowned for its commitment to digital innovation, environmental focus, and community involvement.
This acquisition by not only marks a new chapter for DEX Imaging but also underscores the potential for growth and innovation within both DEX and its newly independent subsidiary TotalPrint USA. It reflects goals and visions aimed at improving service delivery and expanding market reach. For further details on Gamut Capital Management and DEX Imaging, visit their respective websites to learn more about their services and industry leadership. (Insert Website Link)
