Loffler Buys Assets Of Minneapolis Competitor
Loffler Companies, Inc., which provides office technology and related services, has acquired the assets of local competitor Imaging Path for an undisclosed sum, and it plans to take on two-thirds of the firm’s employees.
After the deal closes on June 30, Imaging Path will shut down its Minneapolis office and 33 of its 57 employees will move to Loffler’s headquarters in Bloomington.
In 2013, Loffler generated $67 million in revenue. Both companies provide products like copiers, printers, telephone systems, software, and workflow technologies, among other services.
Loffler said that, by adding Imaging Path’s offerings, it will increase its focus on providing IT solutions to its clients. The company said the deal will make it “one of the largest imaging companies in the Upper Midwest.”
Loffler spokeswoman Mary Steffl said the employees joining the company include sales staff, technicians, and administrative workers. Steffl said no Imaging employees will join Loffler’s current senior leadership team and that Imaging CEO Corey Tansom will not be joining the company.
“We are so happy to welcome many from the Imaging Path team to Loffler, to help us continue to serve clients in the best way possible and exceed their expectations,” Loffler President and CEO Jim Loffler said in a statement. “Our broad offerings of products and services, specialized trainers, flexible billing, and financing options at all price levels and award-winning service and support are all benefits our new clients will enjoy.”