Office Total S.A. has acquired Xsol Soluções Tecnológicas (Xsol).
In a press release, the two companies confirmed the deal, which saw H.I.G. Capital, a “leading global private equity investment firm with more than $20 billion of equity capital under management” announce the deal, with Office Total S.A. one of its portfolio companies and a “leading independent provider” of MPS in Brazil. Xsol meanwhile is based in Rio de Janeiro, and “outsources and sells a wide range of office equipment including printers, projectors and monitors”.
The company also “provides ongoing technical support and maintenance services to small and mid-sized clients” who are “located primarily in Rio de Janeiro”, and provides MPS as well as “primarily” outsourcing printers”. It is also said to be “among the top three purchasers of Xerox printers in Brazil”, and has over 80 employees as well as “clients across various sectors”.
Office Total meanwhile is “the leading MPS provider” in Rio, with over 200 employees, and it outsources and commercialises “a wide range of equipment from several suppliers”, claiming in turn that it is “among the largest buyers of printers in Brazil”. Fernando Marques Oliveira, Managing Director and Head of H.I.G. Latin America, stated that “the merger of both companies will further solidify Office Total’s position as one of the largest independent players in the Brazilian MPS market”.
Andre Vinicius, CEO of Office Total, commented: “Xsol represents a highly strategic and complementary acquisition for Office Total. We have known Xsol management for years and they have built an excellent reputation based on providing customers with quality service. With the merger of both companies, we will continue delivering outstanding service in collaboration with our valued employees.”