Toshiba Acquires New York Dealership23 Nov, 2005
Toshiba Acquires New York Dealership
Toshiba Business Solutions (TBS) announced the acquisition of Office Equipment Company Inc. (OEC), by its local subsidiary, Business Methods Inc., dba Toshiba Business Solutions–New York.
OEC is a leading office equipment and service supplier headquartered in Rochester, N.Y. Effective immediately, OEC will be combined with TBS-New York, which also is headquartered in Rochester, N.Y. TBS-New York is a part of Toshiba America Business Solutions Inc.’s (TABS) TBS subsidiary, a network of wholly owned office equipment dealers.
“The acquisition of OEC is a significant accomplishment for Toshiba,” said Wayne Wilkinson, vice president / general manager, TBS. “Combining OEC’s large customer base with the existing reach of TBS-New York will strengthen our market leadership position in the area and contribute to Toshiba’s overall strategic growth plan.”
TBS-New York is led by President Steven Sauer. OEC will contribute to considerably increasing Toshiba’s market share throughout Rochester. With TBS-New York’s current market share of more than 20 percent of the office equipment market, the acquisition of OEC will enable Toshiba to capture a significantly larger portion of the Rochester market and reinforce its position as the market leader in providing quality office equipment and service offerings.
“OEC has an excellent reputation within the Rochester community,” said Sauer. “The company’s solid business practices and exceptional customer support are a perfect fit with TBS-New York. We look forward to forging new relationships for the mutual benefit of our customers and our business.”
In business since 1959, prior to the acquisition OEC sold two competitive brands of office equipment products. The company employs 42 people working out of one headquarters office and serving six counties throughout Rochester.
“We are proud to join forces with the Toshiba organization,” said Stu Dunphrey, former owner of OEC. “Toshiba is recognized for developing innovative products and solutions that enhance its customers’ work environment and contribute to the bottom line. We are thrilled to be able to provide our customers and employees with the support and resources from such a well respected industry leader.”
This represents TBS’ 39th dealer acquisition since the creation of the company’s business expansion plan, supporting the overall objective of bolstering the TBS operation by acquiring independent dealers in the top U.S. markets. The acquisition of OEC is Toshiba’s seventh acquisition in the 2005 calendar year. Other Toshiba acquisitions in 2005 include Danka Latin America, Candle Business Systems Inc., Office Systems Inc., Collier Business Equipment, Stringer Business Systems – Oakland, and FKM Copier Products.