Gamut Capital Management, L.P. (Gamut), a prominent private equity firm focusing on the middle market, based in New York, alongside the Doyle family, announced their agreement to purchase DEX Imaging (DEX) from Staples, Inc. (Staples). Staples is a top distributor of commercial supplies to business clients.
DEX was founded in 2002 by Dan Doyle Sr. and his son, Dan Doyle Jr. It has since become a notable force in the managed print services sector, providing a full array of solutions including equipment, service, and supply management. DEX serves a diverse clientele, ranging from small businesses to large corporations, and is acclaimed for its extensive product range from top manufacturers, exceptional service, and a client-focused strategy in optimizing document management systems.
Staples took ownership of DEX in 2019 and has expanded the company both organically and through mergers and acquisitions, in collaboration with the Doyle family. Dan Doyle Jr., the CEO of DEX, remarked, “Since Staples took over, they have significantly contributed to our growth and prepared us for the future.”
He continued, “We are delighted to reclaim an ownership stake in the company we started. We are looking forward to partnering with Gamut to deepen our supplier relationships and improve our service offerings, ensuring DEX remains at the forefront of customer satisfaction and technology advancement.”
Sam Powell, a Partner at Gamut, expressed enthusiasm about the partnership with the Doyle family, who have nearly fifty years of industry excellence. “Our goal is to establish a national presence through strategic acquisitions and natural growth, building on the strong foundation established by the Doyle family. This partnership is geared towards nurturing and advancing companies with substantial market prospects and established leadership to foster sustained value growth.”
As part of the agreement, Sam Powell and Stan Parker, a Founding Partner at Gamut, will join the DEX board of directors to guide the company’s strategic growth and expansion plans.
The financial specifics of the deal were not disclosed. The acquisition remains subject to standard closing conditions.
Guggenheim Securities, LLC was the financial advisor for DEX Imaging.
About Gamut Capital Management Gamut Capital Management is a New York-based private investment firm managing assets worth over $3 billion, specializing in mid-market opportunities. Established in 2015, Gamut utilizes a flexible, opportunity-driven investment strategy, aiming to collaborate with companies to drive strategic growth and value enhancement. More information can be found at www.gamutcapital.com.
About DEX Imaging DEX is a top independent U.S. provider of office technology. Their comprehensive services are used by thousands of small businesses and large enterprises, including Fortune 1,000 companies. DEX supports a nationwide network of specialists, selects superior equipment models tested for reliability, and tailors solutions to fit unique business needs. Digital innovation, in-house research and development, environmental focus, and community involvement are DEX’s core principles.
SOURCE Industry Analysts Inc.
