FTG Makes Strategic Investment in Advance Business Systems to Expand Market Share in the Northeast

BALTIMORE, MD – Flex Technology Group (FTG) announced today the acquisition of Advance Business Systems, a premier office technology and solutions provider based in Baltimore, Maryland.

Since its founding in 1964, Advance Business Systems has become a leading provider of business solutions in Maryland helping to improve workflows and increase efficiencies with Managed IT Services, Hardware, Production Print, Managed Print Services, Document Management, and Software Enhancement. Today, Advance Business Systems serves customers throughout the greater Mid-Atlantic region and across the nation out of its corporate headquarters in Baltimore, MD.

“We’re excited to welcome Jeff Elkin and his team of over 130 professionals to the FTG family. Advance is a world class organization. Their core values and unwavering commitment to their customers, community, and people align strongly with FTG, creating a solid foundation for a phenomenal partnership,” states Frank Gaspari, CEO of Flex Technology Group. “With this acquisition, FTG’s revenue now exceeds $400 million. We have a strong pipeline of great dealers looking to join FTG. Our national sales platform continues to fuel our organic growth. The future is exciting at FTG, and I look forward to the opportunities it will create for our 1300+ employees.”

“I’m thrilled to announce our partnership with Flex Technology Group and what that means for our entire team at Advance and our customers – new growth opportunities, additional employee programs, and expanded resources to provide an even greater customer experience,” states Jeff Elkin, President of Advance Business Systems. “We’re incredibly proud of what we’ve built here and look forward to leveraging our collective resources to continue our growth and elevate our value propositions.”

“We are excited to continue our best of breed acquisition strategy,” said John Knoll, co-founder of Oval Partners. “Advance’s longstanding customer relationships and deep market presence in the greater Baltimore area creates an attractive opportunity for FTG to offer its market leading managed print platform to both existing and new enterprises in that market. Combining the local presence of our copier dealer partners that have joined Flex with the nationwide coverage and capabilities of FTG is a powerful combination that has benefited all our customers. This is an exciting continuation of that strategy.”

Mr. Elkin, who will be an equity holder in Flex Technology Group, and his executive team will remain in their current leadership roles to ensure the continuation of the company’s proven success in serving their employees, customers, and the greater Baltimore community.