Des Plaines Office Equipment (DPOE) acquires Chicago-based Synergistic Office Solutions16 Apr, 2008
Des Plaines Office Equipment (DPOE) acquires Chicago-based Synergistic Office Solutions
ELK GROVE VILLAGE, IL - Des Plaines Office Equipment (DPOE), the Chicago area’s leading provider of office equipment solutions since 1955, today announced that it has completed the acquisition of Synergistic Office Solutions, a suburban Chicago document management/office products firm.
Chip Miceli, President of DPOE, did not disclose specific terms of the sale but noted that Synergistic Office Solutions had performed in the $1 million annual sales range, with the majority of that effort in the Sharp Office Product division. The Synergistic location in Tinley Park will be consolidated into DPOE’s North Chicago office at 500 North Wells. Miceli purchased the three-year old company from owner Michael Elrod; he said that DPOE may retain one or more members of the Synergistic sales team but that details have yet to be finalized.
Miceli, whose company is a leading Sharp dealer, said that the acquisition will further expend DPOE’s reach in the Chicago market area. DPOE is already a premier Sharp Dealer, having won that company’s prestigious Hyakuman Kai award for outstanding sales, annually since 1988. The Synergistic accounts will be incorporated under the DPOE name and brand.
In February of 2007, DPOE made another acquisition of a Chicago company, DVT at 20 North Wacker, Chicago, and converted that firm’s location to a DPOE location. That company had annual revenues in the $5 million range and was also a Sharp dealer.
“This is a good strategic move for us,” said Miceli, who noted that this expands the 52 year old firm’s marketshare in Chicago and will have an immediate increase in the company’s overall sales volume. Miceli, whose firm posted in excess of $12 million in sales last year, said that the acquisition should immediately expand the figure to $13 million and, with the implementation of several new additional programs, he anticipates an increase of another 20% for 2008.
Miceli said that his firm is considering additional locations within the next several years. “The technology is rapidly changing in our industry,” he said. “Our business began 52 years ago selling Underwood typewriters and Olivetti calculators. Our challenge is to stay ahead of the technology that is driving our industry, while at the same time providing superior service. We look forward to these challenges.”q