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Toshiba Business Solutions Further Strengthens Strategic Growth Plan With Acquisition

Press release from the issuing company

IRVINE, Calif. (Sept. 28, 2005) – Continuing to expand its nation-wide network of wholly owned subsidiary operations, Toshiba Business Solutions (TBS) today announced the acquisition of two new dealerships, Candle Business Systems Inc. and Office Systems Inc. Both Candle Business Systems and Office Systems will become part of Toshiba America Business Solutions Inc.’s (TABS) TBS division, a network of acquired Toshiba equipment and solution providers. The two transactions represent TBS’ 36th and 37th dealer acquisitions since the creation of the company’s business expansion plan, supporting the overall objective of bolstering the TBS operation by acquiring large independent dealers in the top U.S. markets. “We are very pleased to welcome Candle Business Systems and Office Systems as the newest members of the Toshiba family,” said Wayne Wilkinson, vice president of Business Operations, TBS. “Both companies have demonstrated tremendous selling success as well as a solid commitment to exceptional customer service, two metrics which are highly valued within the TBS organization.” Candle Business Systems, which previously sold both Toshiba products and services as well as other competitive brands, will become Toshiba’s 16th core subsidiary operation. In business for 20 years, Candle Business Systems is headquartered on Long Island, N.Y., with six locations throughout New York and New Jersey. TABS recognized Candle earlier this year with the “Number One in Purchases” award in the eastern region. Former Candle Owner and President, Joseph Weiss, will remain with the company and continue his role as president. “With extensive experience selling Toshiba products and working with the company, we were confident that Toshiba was the right partner for us as we move forward to achieve our continued growth and business development objectives,” said Weiss. “We are proud to align ourselves with a market leader that supports the tradition of excellence we built and maintained as one of the nation’s largest independent office equipment dealers.“ Office Systems Inc., headquartered in Bismarck, N.D., operates five sales offices and three service locations serving North Dakota, Montana and Minnesota. Previously an independent dealer selling Lanier products, Office Systems will transition to the Toshiba brand of products as part of the acquisition process. The dealership will be combined with TBS-Minnesota, a TBS subsidiary headquartered in Eagan, Minn., upon completion of the acquisition. Current co-owner Don Fennewald will remain as vice president and general manager, while other Office System co-owners, Bill Huschka and Jim Tschaekofske, will retire upon completion of the transaction. “Office Systems has entered into this new relationship to benefit both our customers and employees alike,” said Fennewald. ”Toshiba has a great reputation in the market for reliable products and superior customer support. We’re excited about the opportunities partnering with a company like Toshiba provides for our company and our customers.” The acquisitions of Candle Business Systems Inc. and Office Systems Inc. represent Toshiba’s fourth and fifth acquisitions respectively in the 2005 calendar year. TABS’ other acquisitions in 2005 include Collier Business Equipment, Stringer Business Systems – Oakland, and FKM Copier Products.