Oval Partners, a San Francisco-based, multi-family office private equity firm, announced a new partnership with CBE Office Solutions, an office technology provider based in Southern California.
CBE Office Solutions was founded in 1993 by Tarek Hafiz in Irvine, CA, and currently serves Orange, Los Angeles, San Bernardino, and Riverside counties. In addition to the Irvine corporate headquarters, CBE has branch operations in Torrance, City of Industry, Valencia, and Ontario. CBE has aggressively grown their market share and offerings, today representing a single-source solution for businesses by providing document management, managed print services and managed network services, which include 24/7 network support, software, and data security solutions. CBE represents products manufactured by Sharp, Canon, Ricoh, HP and FP Mailing Solutions.
“We’re excited to welcome CBE Office Solutions to the Flex Technology Group as we execute on our strategy of a national footprint and aggressive market share expansion,” states Frank Gaspari, CEO of Flex Technology Group (FTG). “Over the last 26 years, Tarek and his team have built an impressive company with amazing organic growth and a great corporate culture. CBE and their 175 employees will operate as a core company within FTG. This partnership further fuels our momentum towards becoming the largest office technology provider in the nation.”
“This partnership with Flex Technology Group is significant for us because it allows CBE to expand our services, accelerate our growth initiatives, and provides exciting career opportunities for our talented employees,” said Tarek Hafiz, President of CBE Office Solutions. “Being part of the FTG platform, we can now leverage the many resources of a national office technology company to aggressively grow our business and improve our clients experience with CBE.”
Flex Technology Group has expanded rapidly since 2016. Its portfolio of office technology companies now includes 15 partner dealerships generating over $325 million (€291 million) in annual revenues and serves over 60,000 customers nationwide, the company explained.
CBE’s executive team will remain in their leadership. Mr Hafiz will be an equity holder in FlexPrint LLC.
