ABCOM Technology Group Acquires SmartSource Rentals
March 25, 2019
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.”
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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