Oval Partners, which includes a former Clover President and Golden Gate Capital staff in its management team, has acquired Laser Options.
In a press release, the company referred to its “strategic investment” in Laser Options in a deal that is set to “advance” Oval Partners’ previously acquired FlexPrint – another MPS company – in its growth strategy to “enhance enterprise MPS”. Laser Options “specialis[es]” in MPS and provides “exceptional customer service”, as well as a “full line of copiers, printers, and document management solutions”.
Oval Partners calls itself a “multi-family office investment firm designed to provide liquidity, growth capital and acquisition funding to founders of growing businesses across North America”, while FlexPrint – founded in 2005 – is said to be the US’ “leading privately-owned enterprise” for MPS and technology services. Laser Options meanwhile had begun as a remanufacturer of toner cartridges, and the deal is the “first to build upon FlexPrint’s proven business model and national platform”.
Oval Partners’ two Managing Directors and Co-Founders – Jake Mizrahi and John Knoll – are both profiled on the company’s website as having been Managing Director and employee of Golden Gate Capital, the investment firm that invested in Clover in 2010. In turn, Dan Ruhl, another of the company’s partners, was previously President of Clover Technologies, at which the site notes “during Dan’s tenure […] the company grew more than 20 fold and acquired over 30 companies”.
Jeff Masters, President and CEO of Laser Options, will continue in his roles, and commented: “I am extremely excited to embark on a new phase of growth with FlexPrint and Oval Partners. We are fortunate to have forged an outstanding relationship and share the same commitment to our employees, our customers, as well as our vision for continued pursuit of excellence.”
Frank Gaspari, CEO of FlexPrint, added: “Laser Options has a proven business model and great reputation as a company that delivers first class service with integrity. We are excited to have Jeff Masters and his team join us as we build upon the Nation’s largest and strongest privately-held managed print services organisation.”