Gamut Capital Management to Acquire DEX Imaging from Staples, Inc.
April 23 2024 - 11:00AM
Business Wire
Gamut Capital Management, L.P. (“Gamut”), a leading New
York-based middle market private equity firm, in partnership with
the Doyle family, today announced they have signed a definitive
agreement to acquire DEX Imaging (“DEX”), a premier provider of
managed print services, from Staples, Inc. (“Staples”), a market
leading commercial supply distributor serving business
customers.
Founded by Dan Doyle Sr. and Dan Doyle Jr. in 2002, DEX has
established itself as a leading player in the managed print
services industry, offering comprehensive solutions including
equipment, servicing, and supply management to a wide range of
clients from small businesses to large enterprises. The company is
well-known for its broad portfolio of products from leading
manufacturers, industry-defining service, and a collaborative
approach to streamlining document infrastructure that puts the
customer first.
Staples acquired DEX in 2019 and grew the business organically
and through M&A, in partnership with the Doyle family. “Since
Staples acquired DEX, their team has been a great partner, helping
drive growth and positioning us for our next chapter,” said Dan
Doyle Jr., CEO of DEX.
He added, “Our family is pleased to again take an ownership
stake in the business we founded, and we look forward to working
alongside the Gamut team to further strengthen our relationships
with suppliers and enhance our service capabilities, ensuring DEX
continues to set industry standards in customer satisfaction and
technological innovation.”
“We’re eager to partner with the Doyle family, a name that has
represented excellence in the industry for nearly five decades,”
said Sam Powell, Partner at Gamut. “Together, we aim to build a
national presence through strategic acquisitions and organic
growth, leveraging the strong foundation laid by the Doyles. This
partnership embodies our commitment to invest in and enhance
businesses with solid market potential and proven leadership to
enhance long-term value creation.”
In connection with the transaction, Sam Powell and Stan Parker,
Founding Partner at Gamut, will join the DEX board of directors,
supporting the company's strategic direction and expansion
efforts.
Financial terms of the transaction were not disclosed. The
acquisition is subject to customary closing conditions.
Guggenheim Securities, LLC served as financial advisor to DEX
Imaging.
About Gamut Capital Management Gamut Capital Management
is a private investment firm based in New York managing over $3
billion in assets focused on middle market opportunities. Founded
in 2015, Gamut employs a flexible, opportunistic investment
approach and seeks to partner with companies to facilitate
strategic growth and value creation. Learn more at
www.gamutcapital.com.
About DEX Imaging DEX is a leading independent provider
of office technology in the U.S. Their full-spectrum solutions are
operational in thousands of small businesses as well as enterprise,
Fortune 1,000 companies. With a nationwide network of support
specialists, DEX chooses the best, most reliable models from the
nation's top imaging equipment manufacturers, tested in-house for
reliability, and pairs them with the unique business requirements.
Digital intelligence, in house R&D, environmental consciousness
and local stewardship are the hallmarks of DEX.
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Gamut Capital Management Media Contact: Jack McCarthy,
Prosek Partners Pro-Gamut@prosek.com +1 646-818-9098