Konica Minolta Acquires Copytronics Information Systems

David Ramos
Jun 5, 2014

Will report to 2013 acquisition CopySource President and Chief Sales Officer Tim Marshall, demonstrates continued focus to strategic investments.

In June of 1972, Paul Shields moved his family to Jacksonville, Florida. With $1,500 to invest, a fresh contract for a copier dealership in his pocket that still had a signature with wet ink from his pen, Paul created Copytronics, Incorporated. With one employee and through hard work, dedication and a lot of late nights, he managed to sell $150K in sales revenue during the first year. After you factor the rate of inflation, that $150K would be roughly the equivalent to $838K in revenue in 2013 US Dollar value. That is some impressive productivity!

The seventies and eighties were boom years for the copier industry; Copytronics took full advantage of this by expanding into Orlando, Cocoa, Melbourne and Daytona Beach. During this time Paul realized there was a void for independent dealerships need for solid, timely information on business and industry trends, so Paul founded the Copier Dealers Association (CDA). An influential industry group that today boasts membership of close to 80 successful business owners from the United States and Canada. The association focuses on sharing business best practices, exchanging ideas and tracking industry trends, strategies and execution methods for the betterment of its members.

Like many American business stories, Copytronics was a family business and soon Paul was joined by his son, Robert (Bob). After spending summers during college selling supplies, Bob Shields joined Copytronics Information Systems as a full-time sales representative in 1976 after graduating with a bachelor’s degree in Business Administration from Wisconsin-La Crosse; in 1980, he was promoted to Jacksonville Sales Manager and by 1990 he had elevated to become the General Sales Manager for the entire company. Since 1997 and until his recent passing, Bob Shields had been President of Copytronics Information Systems. Today, Copytronics has more than 150 employees, seven locations (Jacksonville (2), Cocoa, Daytona Beach, Orlando, Gainesville and Ocala, Florida) and produces $22M in annual revenues (after peaking at $24M prior to the recession).

Konica Minolta acquires a company in Copytronics, with a proud history and incredible legacy from the Shields family, a solid customer base, excellent marketplace reputation and of equal importance, a company that boasts one of the best run service operations vs. industry benchmarks in the country.

“Our senior management team strongly believes that Copytronics’ customers and employees will benefit greatly as members of the Konica Minolta Team,” says David Shields, president, Copytronics. “Konica Minolta’s global resources, exceptional product line, commitment to service and extensive business solutions will allow Copytronics to provide our customers with even more value. Additionally, by utilizing Konica Minolta’s solutions, we will enable customers to improve document workflow and increase efficiency while reducing costs.”

As part of the acquisition agreement, Copytronics’ executive management will report directly to Tim Marshall, president, CopySource, Inc., a wholly owned subsidiary of Konica Minolta. The South Florida-based company was acquired by Konica Minolta in December 2013.

“With this acquisition, we are continuing on a course to aggressively and strategically grow our presence in certain geographic markets,” says Rick Taylor, president and chief operating officer, Konica Minolta Business Solutions U.S.A., Inc. “Copytronics’ reputation as a leading business solutions company in the region, as well as a long-time Konica Minolta dealer partner, make this partnership a win-win for both companies.”

Florida Acquisition Activity Graphic
InfoTrends Channel Strategy Service Data

The recent KMBS  moves coupled with rumors of Dex Imaging partnering with Canon to fund an initiative of Canon only branches’ to facilitate Dex reaching the goal of $250M by 2015, Florida’s competitive market place will see increased acquisition activity as well as strategic maneuvering in 2014 from various industry players, not just Konica Minolta Business Systems.

Data from InfoTrends Channel Mapping Tool
Sample – Independent OE Dealer, IT Reseller, MSP, VAR — IT/Systems Integrator in State of Florida

With increased dealings in joint ventures/partnerships, buying, selling, dividing, and combining of different companies along with pursuing adjacent market opportunities so as to facilitate growth and defend existing markets, 2014 will continue to be one of excitement and opportunity for the imaging industry.

David Ramos is the Director of Channel Strategy Service for InfoTrends. David is responsible for managing custom consulting projects, providing forecast analysis, developing market sizing estimates, and marketing channel strategy services to independent companies in the office equipment and IT services space. He can be reached via email at david.ramos@infotrends.com or by phone at 781-616-2151.

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