Gamut Capital Management to Acquire DEX Imaging from Staples, Inc.

NEW YORK--(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.