Xerox Acquires Tampa-based Zeno

Florida-based Zeno Office Solutions has been purchased by Xerox for an undisclosed sum. This Tampa company has grown into a major office equipment supplier statewide. Zeno co-owner Rick Lott said that with the support of Xerox, his company can grow increasingly quickly. The sale definitely means another Tampa-based company will fall into out-of-state control, but Lott said Xerox has a hands-off policy toward many of its acquisitions.

Lott said Zeno Office Solutions is officially a Xerox company hence he predicts little change in operations. Zeno will maintain its name and its 300 employees in Florida.

Rick Lott has spent much of his career in the office equipment industry. He and business partner Tom Frederick were both former executives at the once-giant office equipment company Danka Business Systems. They formed Zeno in 1996. It sells and maintains copiers, printers and mailroom equipment. Zeno also offers document storage and provides employees for corporate mailrooms and copy centers.

Lott and Frederick built the company during the past 17 years through internal growth and acquisitions, purchasing more than 12 companies. Now they run 11 Zeno facilities across Florida.

Lott said he and Frederick will stay with Zeno so long as Xerox wants to keep them. “We were looking at the best way to grow our company, and teaming up with Xerox was the best way to grow,” he said.

Lott and Xerox refused to reveal the amount of the sale although the last available revenue figure was $40 million in 2005.