ABCOM Technology Group, a Dubin Clark portfolio company, announces the recapitalization of SmartSource Rentals
ABCOM Technology Group, Inc. (“ABCOM”) completed its first acquisition since partnering with Dubin Clark, acquiring SmartSource Rentals® (“SmartSource”). The combination of ABCOM and SmartSource creates the leading provider of outsourced IT and event technology solutions with a broad and innovative offering of services to enhance the customer experience.
SmartSource is the trusted expert in technology solutions for businesses and events and maintains the largest national footprint in the computer and audio-visual rental space. SmartSource is widely recognized for its breadth and depth of offerings and seamless systems integration for even the most complex temporary installations. By leveraging high performance IT, AV, and the latest interactive technologies, SmartSource solutions help marketers effectively convey and distill their brand messages. SmartSource has fully-staffed and equipped branch offices in 20 major metropolitan markets. Founded in 1984 as Rent-a-PC, the company was the pioneer market maker in technology rentals.
“ABCOM is investing in the solutions and capabilities that will enhance the customer experience and move the business forward,” said Brent Paris, Managing Partner of Dubin Clark. “ABCOM’s partnership with SmartSource provides a platform for growth and solidifies the Company as an industry leader – both of which are incredibly important as we look towards the future.”
“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,” stated ABCOM CEO Sonny Goyal. “We are proud to partner with SmartSource, leveraging our complementary suite of services. 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.”
Sanjay Kapur, CEO of SmartSource, added, “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. We look forward to growing together and using our shared ideals and culture of operational excellence to become a stronger partner for our customers.”
The combined company is led by CEO Sonny Goyal with the support of a highly experienced leadership team comprised of executives from both ABCOM and SmartSource. Sanjay Kapur will be a key part of the leadership team of the combined company, serving as COO.
With 26 offices in 21 markets and a collective team of more than 500 employees, the combination significantly expands ABCOM’s geographic footprint to better serve customers throughout North America and advances the Company’s strategic approach focused on partnerships and transcontinental expansion. The combination also accelerates ABCOM’s growth strategy in technology rentals – a key pillar of the its business model – and strengthens its Digital Signage Solutions (ABCOMDSS) and Asset Management Services (ABCOMAMS) divisions, resulting in a complementary and expanded overall portfolio.
While the combined company will immediately benefit from shared resources and capabilities, both ABCOM and SmartSource’s teams are conducting business as usual and will largely operate independently in the near term. Accordingly, the combination is positioned to enhance the customer experience and will in no way impact existing customer relationships.
“The value of this combination is underpinned by the expertise of our people,” Goyal concluded. “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.”
As the leading provider of event technology solutions since 1989, ABCOM creates partnerships with clients in the rental industry to help them bring unique technology and full-service solutions to its client base. ABCOM strategizes and helps implement full-service event productions with its innovative technology solutions and the supporting infrastructure. ABCOM believes every client is a partner, so by working together with its unparalleled service, ABCOM is able build solutions to bridge technology and people to ensure a flawless event.