History & Beliefs
After 35 years with large international companies (GE, Motorola, Nortel), Mike and Robin Zafirovski founded The Zaf Group in 2011. The initial client was The Blackstone Group, where Mike was an Executive Advisor (2011-2021) and an active board member of 3 of their portfolio companies. The Zaf Group transformed into a Family Office in 2016 with the goal of building a strong and enduring firm. The initial focus was on acquiring 3-5 well-run family businesses with the intention of developing them to their full potential and owning them in perpetuity. To date, we have two portfolio companies (5 acquisitions in total) and have developed a strong portfolio operations team able to add operating expertise and create value for the companies we own or support.
As we look to the future, in addition to acquiring several more portfolio companies, we are expanding the Group’s scope of activities to include significant involvement with several private companies (similar to the prior involvement with Blackstone and several of its portfolio companies), as well as in venture capital investing. The Zaf Group operating model and the portfolio operations team will be the “secret sauce” in all these activities, whether investing to own the companies outright or supporting them as clients/partners.
Mike and Robin’s sons, Matt, Kirk, and Todd, are all involved in the business. Matt and Todd work at one of the portfolio companies – ACP CreativIT, and Kirk works at The Zaf Group.
We believe that well-run, values-based businesses are important assets to any community where they operate. The responsibility to build our businesses and support their communities is a priority for us. We also believe in giving back to causes close to our hearts. The Zafirovski Family Foundation complements The Zaf Group and shares the same guiding principle: To fulfill God-given potential and share good fortune with others.
We bring ourselves – and an ecosystem of partners, clients, and professional and personal networks – in all that we do.
Mission
Our mission is to build impactful, values-based businesses, organizations and leaders
Pillars
High Values / ICARE2
Our Values reflect that we care. The acronym, ICARE2, stands for:
Integrity | Collaboration | Accountability | Responsibility | Excellence | Effectiveness
High Expectations for Results
Bringing “forceful optimism” to all our companies and all that we do, with a focus on being the best partner, employer, and value creator.
Commitment to People and Leadership Development
We are constantly building a collaborative, nonhierarchical, partnership-like culture while genuinely investing in people and their development at all levels and across The Zaf Group.
Meritocracy
We encourage, value, and promote people based on their values, potential, and demonstrated results.
“Do all you can, with what you have, in the time you have, in the place you are.” – Nkosi Johnson, South Africa, 2001
Portfolio & Structure
Our current portfolio contains two platform companies – ABCO Systems and ACP CreativIT (the latter incorporates 4 acquisitions: ACP, Camera Corner Connecting Point, Citon and Versatile). Our Group structure also includes the European arm TZG Europe, as well as the Zafirovski Family Foundation.
The Zaf Group Around The World
TZG is a rapidly growing family of companies and clients/partners united by a common set of core values. It spreads out on two continents and operates from multiple locations, including Lake Forest, IL; Boston, MA; New York, NY; Naples, FL and Skopje, North Macedonia.
CITON
Corner Connecting Point (CCCP)
ACP CreativIT
The Zaf Group
Versatile Communications
ABCO Systems
TZG Europe
Timeline
During his corporate career, Mike Z. served as President/CEO at Nortel, Motorola, and five GE businesses. In 21 years of direct P&L responsibility the following results were achieved:
- Top-line CAGR of 8%; grew revenue in 18 of 21 years
- Increased operating margin every year, at average of 350BPs per year
- Annual productivity of 6%
- Operating cash flow and ROE increased in all but one year
- Customer satisfaction increased in all 21 years; employee satisfaction increased in 20 of 21 years
The Zafirovski Family Foundation (established in 2005) activities focus on education, healthcare, faith-based ministries, and economic development. A native of Macedonia, Mike is co-founder and director of Macedonia 2025 (www.macedonia2025.com), an organization dedicated to enhancing the country’s economic and democratic development. One of the programs (Zafirovski Executive Development), in partnership with the Kellogg School of Management, is accelerating the development of 100 future CEOs and CXOs in the country.
The Zaf Group was founded in 2011 by Mike and Robin Zafirovski. The initial sole client was The Blackstone Group. In 2016, The Zaf Group was transformed into a Family Office and pivoted towards owning and operating companies. The Zaf Group scope expanded in 2022 (see Zaf Group 2.0 below).
- Mike Zafirovski was an executive advisor to The Blackstone Group for 9 years advising on leadership matters and involved in diligences and new acquisitions
- Independent Director at Apria Healthcare (2011-2022); 3.5x MOIC
- Chairman of DJO Global (2012-2021); Returned to original investment
- Chairman at PGI/Avintiv (2015-2017); 3.1 MOIC in 2 years
The Zaf Group aquired the first family business, ACP (Arlington Computer Products), an $75 million IT hardware distributor and services provider based in Buffalo Grove, Illinois. Founded 33 years ago by entrepreneur Arlington “Arly” Guenther, ACP has amassed a formidable track record serving blue-chip Fortune 100 customers with relationships that span many decades, punctuated by industry-leading vendor partnerships in high-growth areas such as physical security, education, cyber-security, and managed services.
ACP CreativIT (formerly Arlington Computer Products), an IT solutions provider based in Chicago and Atlanta, announced it has merged with Camera Corner Connecting Point (CCCP), an IT and audio-visual solutions provider based in Green Bay, Wisconsin. Taken together, the businesses have more than 100 years of family ownership heritage and more than $3 billion of IT and audio-visual solutions delivered since inception. The merger was effective October 1st.
The Zaf Group acquired the third family-owned business – ABCO Systems. ABCO Systems LLC is a full-service Design & Build Material Handling Company, specialized in providing full turn-key solutions for optimal warehouse design and space implementation. They build Garment on Hanger (GOH) Systems, Pallet Rack, and pallet storage of any kind; install Pick Modules and Mezzanines and everything in between; and also design and install both new and used Conveyor Systems.
ACP CreativIT/CCCP announced its merger with Citon Computer Corporation and its sister companies—NetTel, NetGuard and TLX Communications.
Founded 28 years ago, Citon is a market leader in the small- and medium-sized business segment, with a broad suite of solutions and services, including IT hardware, cloud services such as data center hosting, managed services, professional services including data cabling and installation, on-premise and video security offerings, as well as onpremise and hosted phone systems. Taken together, the businesses will have over 130 years of founder/family ownership heritage, more than $3.5 billion of IT products and solutions delivered since inception, $300 million of annual revenue and nearly 300 employees.
TZG Europe DOOEL is a daughter company of The Zaf Group LLC and its first office in Europe, based in Skopje, RN Macedonia. We are on a constant lookout for brave minds that seek personal growth and exploration of new horizons. We are building a dream team of talented people that seek growth, while providing internal support and service to our U.S. based portfolio companies in the light industrial, consumer, and B2B IT products and services sectors. We are the business hub of the future!
Founded in 1994, Versatile Communications is a market leader in the small- and medium-sized business segment, with a broad suite of solutions and services, including digital transformation, cloud infrastructure, cyber security, networking, managed services and procurement services. With offices in Hudson, Mass., and presence in Tampa, Fla., Versatile continues to be guided by a mission and belief to, “Deliver empowering IT solutions that drive meaningful value and success for our clients.”
The Zaf Group formalizes portfolio operations group and expands scope to serve other private companies and to include VC investing.
CARLSTADT, N.J., March 4, 2024 — ABCO Systems LLC announced today its acquisition of FastFetch, known for its best-in-class order fulfillment technologies. This strategic move is set to expand ABCO’s reach within the Warehousing and Distribution industry by bringing faster, more accurate, and cost-effective technologies to a wider audience.
FastFetch, renowned for its unique product group, offers a range of solutions that help E-Commerce distribution facilities significantly increase their pick rates by up to 5x in certain cases. This achievement in efficiency propels businesses to new heights of productivity and profitability. Additionally, FastFetch’s state-of-the-art cubing software empowers E-Commerce distribution centers to curtail shipping costs substantially by efficiently selecting the right-sized cartons for shipping.
