Clover Imaging Group’s Executive Leadership Team & Norwest Equity Partners to Acquire Clover Imaging Group from 4L Holdings Group

Created: November 21st 2019

NW-Equity-PR-page

Chicago, IL — Clover Imaging Group (“Clover Imaging”), the world’s largest collector and remanufacturer of printer cartridges, announced today that Clover Imaging’s 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’ 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’s 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.

“Clover’s executive leadership team, in partnership with NEP, will once again control the destiny of the company we built — demonstrating our unwavering commitment to the success of the business and our shared confidence in the aftermarket imaging supplies industry and consumers’ 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,” 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, “We are excited about our investment partnership with Clover Imaging Group — 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’s strong position in the marketplace and put our capital and resources to work to further expand and grow the business.”

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’s management team, including Jim Cerkleski, Chairman; 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’s management team and shareholders throughout the sale process. Financial terms of the transaction were not disclosed.

About Clover Imaging Group

Centered around sustainable innovation, Clover Imaging Group offers independent dealers, OEMs, and retailers a complete imaging and solutions platform. Clover’s 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. For more information on Clover, please visit: www.cloverimaging.com.

Clover Imaging Group Contact:

Keli Posch
keli.posch@cloverimaging.com
480-773-3532

About Norwest Equity Partners

Norwest Equity Partners (NEP) is a leading middle market investment firm focused on partnering with business owners to build companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP offers creative and flexible transaction solutions and believes in long-term relationships. With offices in Minneapolis and West Palm Beach, Florida, NEP focuses on equity investment opportunities for growing and profitable companies within agriculture, business services, consumer, distribution, diversified industrials, energy, and healthcare. For additional information about NEP, please visit www.nep.com.

Norwest Equity Partners Contact:

Beth LaBreche
beth@labreche.com
612-578-2834

Close

Sign Up For More Information

- SIGN UP TODAY! -
Close

Thanks For Signing Up!

Register now to start saving 40% over OEM pricing

2022 Aspire Sustainability Comparative LCA, commissioned by Clover Imaging Group.

Supplies Ordered
Close
We have received your pallet pickup request.
Close
Information
Close
Information
Close
Information
Close
 
Close

 
Close

INFORMATION
Close

Are you sure you want to logout?

INFORMATION
Close

Press OK to switch region to Clover Imaging Group

Multiple choices
Close

This item is available for outright sale or exchange purchase.
Please choose below.

Retrieve account data
Close
To retrieve your login data, enter your email:
 
Please wait...
Information

Thank you for your interest in Clover! Due to the robust functionality on our website, we can only support the most current web browsers. We recommend upgrading your browser to the latest version of Internet Explorer, Google Chrome or Mozilla Firefox.

Information

Your session will expire in 5 minute(s).


Information

Your session has expired, you are now logged out.


Error retrieving data
Close
Thank you
Close
Video
Close
Video
Close
Video
Close
Video
Close
Video
Close
Web Tutorial
Close
Upload logo
Close

Allowed format: .jpg, .png, .bmp; Max:1024x768px; Min:590x307px.

Shipping Information ()

Close
INFORMATION
Close

Your document is being created. Please wait until the download initiates.


Terms and Conditions
Close
Shipping Address List View all addresses
Close
Click on the address to select it
Add new Ship-To address
Close
* Required Field
Add new Ship-To address
Close
* Required Field
How it works?
Close

Click the green button "Create New User"

Fill out the form fields for your new user. Select which permissions your new user should have and assign a username and password. Click Save. You will receive an e-mail confirming the new user has been set up successfully. Follow this procedure to set up each new user.

After you have created a new user, the new user will receive an automated email with their new user name and password. They will be given instructions on how to change their password if they would like to choose their own. However, as an administrator, you will always have access to delete/edit users, view their profile information (including their password) and change their permissions.

If you need to edit a user, there are links beside each user to edit or delete the user’s profile.

If you delete a user, the user will now appear on the Deleted Users Page and you can Re-Activate at any time if you need to do so.

Clover Video
Close
Information
Close

Alternative Items
Close
Notification
Close
Upload Terms and Conditions
Close

Allowed format: .pdf; Max file size: 5MB.

Upload Customer Logo
Close

Allowed format: .jpg, .jpeg, .png, .bmp; Max file size: 5MB.

Resubmit Historical Usage File
Close

Allowed Formats: .xls, .xlsx; Max file size: 5MB.

Warning 
Close

Please note that this is a bid item that's part of the Silver Bullet program. Make sure that you have been approved to ship Silver Bullet items to this customer prior to placing an order. If this customer has not been approved, the order will be cancelled. Thank you.

Warning 
Close

Please note that at least one of selected items is a bid item that's part of the Silver Bullet program. Make sure that you have been approved to ship Silver Bullet items to this customer prior to placing an order. If this customer has not been approved, the order will be cancelled. Thank you.

Warning
Close
Warning
Email
Close
To download this certificate, please provide your email address. You will receive the requested file within 10 minutes.
 
Collection and use of email address governed by our Privacy Policy
PROMOTION DETAILS
Close