ABCOM Technology Group Acquires SmartSource Rentals
ABCOM Technology Group, a leading provider of IT and digital signage and part of the Dubin Clark & Company, Inc. portfolio, has acquired SmartSource Rentals, an event-supporting technology company. Facilitated by a recapitalization, the acquisition is effective today.
“With more than 60 years of combined industry experience, ABCOM and SmartSource share the same focus and values when it comes to anticipating customers' ever-changing needs,” said Sanjay Kapur, CEO of SmartSource. "We look forward to growing together and using our shared ideals and culture of operational excellence to become a stronger partner for our customers."
While the combined company immediately benefits from shared resources and capabilities, it’s business as usual for all customers. The companies will continue to operate largely independently in the near term, according to insiders for each.
The collective team will now have 26 offices in 21 markets and include more than 500 employees, which significantly expands ABCOM’s geographic footprint.
"This is an exciting time for the technology rentals and solutions industry, especially as the events landscape continues to evolve and grow in scale and complexity," said ABCOM CEO Sonny Goyal. "We are proud to partner with SmartSource leveraging our complementary suite of services.”
He continued, “ABCOM's portfolio of innovative technology solutions, coupled with SmartSource's nationwide reach and highly differentiated services, position our combined company to create meaningful growth opportunities for our customers and our people."
Goyal leads the combined company with the support of highly experienced teams from both ABCOM and SmartSource, including Kapur, who will serve as COO.
"The value of this combination is underpinned by the expertise of our people," said Goyal. "We are uniting two pioneering companies founded in the 1980s by entrepreneurs that had a vision of transforming the customer experience in our industry. After running parallel for decades, today, we have joined together to unlock the power of one.”