Clover in the News: Clover Imaging Unleashed

Created: January 8th 2020

PR_Eric_OPI_Text_3

Eric Martin sits down with OPI to discuss the bright future ahead for Clover Imaging after the company’s acquisition by its executive management team and Norwest Equity Partners.

On 16 December, Clover Imaging Group confirmed the closing of its acquisition by its executive management team in partnership with Norwest Equity Partners. It marked the end of a period of uncertainty for the world’s largest ink and toner cartridge remanufacturer following financial issues that became public a few months ago.

Clover Imaging President Eric Martin was obviously relieved, but also excited about the future now that it has been freed from the constraints of its 4L Holdings ownership and the relationship with former sister company Clover Wireless. While he admitted that the Xerox/HP supply agreement last year hadn’t helped Clover Imaging, he played down the significance of this in the overall debt repayment problem of 4L and on Clover’s own business operations. “Without Wireless, there is no issue,” he stated, “and we have a strong, healthy balance sheet.”

Clover Imaging has now been decoupled from the Wireless business in terms of shared services, and a small number of Wireless staff moved out of the Chicago-area premises in December. Apart from that, there were no meaningful synergies between the two companies, and none in terms of distribution facilities, etc, so the separation has been relatively painless. Clover Imaging will keep its Clover name while the Wireless unit is now looking at rebranding.

While financial details of the Norwest transaction were not released, Martin said the remanufacturer – which had annual sales of around $450 million in 2019 – has maintained a healthy working capital as well as lender retained cash.

“The management [Martin himself, Chairman Jim Cerkleski and CEO George Milton] has put its money where its mouth is and we are really looking forward to operating as an independent company again,” he said.

This was something echoed by Cerkleski in a social media post: “I’ve never been more excited than I am today. Happy to get back to our roots!” he wrote when the acquisition closed.

Of course, there are still secular declines in the print industry that Clover will have to contend with, in addition to disruptive strategies by the OEMs and the growing presence of the new-build cartridge manufacturers. However, Martin believes that increased public awareness of environmental sustainability will play to Clover Imaging’s advantage.

He pointed to recent market share wins in the enterprise space as large corporations demand more sustainable solutions, and momentum across a range of channels as the environmental message resonates with more customers. Initiatives such as the Silver Bullet programme aimed at HP customers have been successful, Martin said, and the impact of recent industry consolidation in the managed print space is also likely to be of benefit to Clover Imaging, he noted.

There are no plans to make sweeping changes to how the business operates across its 43 global markets, Martin confirmed. The management team will drive efficiencies as they always have done, he said, but the change of ownership won’t mean a period of disruption. On the contrary, he firmly believes it represents a fresh opportunity for Clover Imaging to grow and once again be the master of its own destiny.

See the original article at opi.net

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