{"id":36952,"date":"2019-11-22T06:57:27","date_gmt":"2019-11-22T14:57:27","guid":{"rendered":"https:\/\/www.enxmag.com\/twii\/?p=36952"},"modified":"2019-11-22T07:00:26","modified_gmt":"2019-11-22T15:00:26","slug":"clover-imaging-groups-executive-leadership-team-and-norwest-equity-partners-to-acquire-clover-imaging-group-from-4l-holdings-group","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/feature-articles\/2019\/11\/clover-imaging-groups-executive-leadership-team-and-norwest-equity-partners-to-acquire-clover-imaging-group-from-4l-holdings-group\/","title":{"rendered":"Clover Imaging Group\u2019s Executive Leadership Team and Norwest Equity Partners to Acquire Clover Imaging Group from 4L Holdings Group"},"content":{"rendered":"\n
\"\"
Jim Cerkleski, Clover Imaging Group<\/figcaption><\/figure><\/div>\n\n\n\n

Clover Imaging Group (Clover Imaging), the world\u2019s largest collector and remanufacturer of printer cartridges, announced Thursday that Clover Imaging\u2019s executive leadership team and Norwest Equity Partners (NEP), a leading middle-market investment firm, have entered into a definitive agreement with 4L Holdings Group to acquire the Clover Imaging business unit. The transaction has been approved by 4L Holdings\u2019 lenders. <\/p>\n\n\n\n

With business spanning 43 countries, Clover Imaging Group is the global leader in producing high quality, low cost remanufactured printer cartridges that help organizations lower their printing costs while reducing their environmental impact. Compared to single-use OEM and clone\/new-build cartridges, Clover\u2019s environmentally friendly cartridges have been shown to use 79% less material and 44% fewer natural resources, representing a 50% smaller overall environmental impact. On a monthly basis, Clover Imaging collects and recycles over 3.5 million cartridges and manufactures over 1.4 million cartridges. Clover Imaging also offers a robust portfolio of services including managed print, technical support, training and marketing services.<\/p>\n\n\n\n

\u201cClover\u2019s executive leadership team, in partnership with NEP, will once again control the destiny of the company we built \u2014 demonstrating our unwavering commitment to the success of the business and our shared confidence in the aftermarket imaging supplies industry and consumers\u2019 demand for environmentally conscious products like ours. Under our new, very low debt structure, we have a lot of flexibility moving forward and are well-positioned to write the next chapter for Clover Imaging Group. We could not be more excited about the growth opportunities this new capital and partnership will provide,\u201d said Jim Cerkleski, chairman of Clover Imaging Group. <\/p>\n\n\n\n

Founded in 1961, NEP has a reputation for its collaborative investment approach and commitment to partnering closely with the management teams of its portfolio companies to create long-term success and stakeholder value. NEP has invested in more than 400 companies to date. <\/p>\n\n\n\n

Tim DeVries, NEP managing partner, stated, \u201cWe are excited about our investment partnership with Clover Imaging Group \u2014 it is a well-run business with a highly experienced, nimble management team that knows how to innovate and execute. We look forward to collaborating with them to leverage the company\u2019s strong position in the marketplace and put our capital and resources to work to further expand and grow the business.\u201d<\/p>\n\n\n\n

Once the transaction closes, which is expected to occur within the next month, Clover Imaging will operate as a separate and independent entity from 4L Holdings Group. Clover Imaging\u2019s management team, including Cerkleski; George Milton, CEO; and Eric Martin, president; will continue to lead the business, which will remain headquartered in the Chicago area. Lincoln International acted as the exclusive investment banking representative for 4L Holdings and Clover Imaging Group, working closely with the company\u2019s management team and shareholders throughout the sale process. <\/p>\n\n\n\n

Financial terms of the transaction were not disclosed. NEP’s other office technology industry investments include its 2015 acquisition of Marco.<\/p>\n\n\n\n

###<\/p>\n\n\n\n

About Clover Imaging Group<\/strong>
Centered around sustainable innovation, Clover Imaging Group<\/a> offers independent dealers, OEMs, and retailers a complete imaging and solutions platform. Clover\u2019s broad array of products and services includes award-winning remanufactured printer cartridges and parts, a comprehensive suite of managed print and technology services, and unparalleled marketing and sales support. Far from its early beginnings as an ink and toner remanufacturer, Clover has evolved into a global enterprise backed by world-class engineering, manufacturing and distribution infrastructure. These expansive capabilities enable Clover to provide a level of partnership unmatched in the aftermarket imaging space. <\/p>\n","protected":false},"excerpt":{"rendered":"

Clover Imaging Group (Clover Imaging), the world\u2019s largest collector and remanufacturer of printer cartridges, announced Thursday that Clover Imaging\u2019s executive leadership team and Norwest Equity Partners (NEP), a leading middle-market investment firm, have entered into a definitive agreement with 4L Holdings Group to acquire the Clover Imaging business unit. The transaction has been approved by 4L Holdings\u2019 lenders. With business spanning 43 countries, Clover Imaging Group is the global leader in producing high quality, low cost remanufactured printer cartridges that help organizations lower their printing costs while reducing their environmental impact. Compared to single-use OEM and clone\/new-build cartridges, Clover\u2019s environmentally friendly cartridges have been shown to use 79% less material and 44% fewer natural resources, representing a 50% smaller overall environmental impact. On a monthly basis, Clover Imaging collects and recycles over 3.5 million cartridges and manufactures over 1.4 million cartridges. Clover Imaging also offers a robust portfolio of services including managed print, technical support, training and marketing services. \u201cClover\u2019s executive leadership team, in partnership with NEP, will once again control the destiny of the company we built \u2014 demonstrating our unwavering commitment to the success of the business and our shared confidence in the aftermarket imaging supplies industry and consumers\u2019 demand for environmentally conscious products like ours. Under our new, very low debt structure, we have a lot of flexibility moving forward and are well-positioned to write the next chapter for Clover Imaging Group. We could not be more excited about the growth opportunities this new capital and partnership will provide,\u201d said Jim Cerkleski, chairman of Clover Imaging Group. Founded in 1961, NEP has a reputation for its collaborative investment approach and commitment to partnering closely with the management teams of its portfolio companies to create long-term success and stakeholder value. NEP has invested in more than 400 companies to date. Tim DeVries, NEP managing partner, stated, \u201cWe are excited about our investment partnership with Clover Imaging Group \u2014 it is a well-run business with a highly experienced, nimble management team that knows how to innovate and execute. We look forward to collaborating with them to leverage the company\u2019s strong position in the marketplace and put our capital and resources to work to further expand and grow the business.\u201d Once the transaction closes, which is expected to occur within the next month, Clover Imaging will operate as a separate and independent entity from 4L Holdings Group. Clover Imaging\u2019s management team, including Cerkleski; George Milton, CEO; and Eric Martin, president; will continue to lead the business, which will remain headquartered in the Chicago area. Lincoln International acted as the exclusive investment banking representative for 4L Holdings and Clover Imaging Group, working closely with the company\u2019s management team and shareholders throughout the sale process. Financial terms of the transaction were not disclosed. NEP’s other office technology industry investments include its 2015 acquisition of Marco. ### About Clover Imaging GroupCentered around sustainable innovation, Clover Imaging Group offers independent dealers, OEMs, and retailers a complete imaging and solutions platform. Clover\u2019s broad array of products and services includes award-winning remanufactured printer cartridges and parts, a comprehensive suite of managed print and technology services, and unparalleled marketing and sales support. Far from its early beginnings as an ink and toner remanufacturer, Clover has evolved into a global enterprise backed by world-class engineering, manufacturing and distribution infrastructure. These expansive capabilities enable Clover to provide a level of partnership unmatched in the aftermarket imaging space.<\/p>\n","protected":false},"author":66,"featured_media":23504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1650,82,87,1638],"tags":[3745,2166,2513],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/36952"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=36952"}],"version-history":[{"count":1,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/36952\/revisions"}],"predecessor-version":[{"id":36953,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/36952\/revisions\/36953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/23504"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=36952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=36952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=36952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}