Reuters: Clover May be on Sale for $1.5 Billion
Reuters reports that Clover Technologies Group – said to be the world’s largest collector and recycler of depleted printer cartridges, as well as old cellphones – may be considering a sale for approximately $1.5 billion, including debt, “according to people familiar with the matter.”
Golden Gate Capital, the private-equity firm that controls Clover, has hired investment-bank Morgan Stanley to help run an auction for the company, Clover, Morgan Stanley, and Golden Gate Capital declined to comment.
Founded in 1996, Illinois-based Clover collects and resells printer cartridges, printer parts and mobile phones, with 60 manufacturing, collection, and sales locations across 19 countries.
According to Reuters:
“Golden Gate acquired Clover and in 2010 acquired another imaging supplies company, West Point Products, which was then folded under Clover’s name.
The combined company has acquired a series of domestic and global companies since then, helping to expand Clover’s presence and offerings. Among its deals, Clover bought Saaker Printing Design and Engineering in India, LaserCare in Singapore and telecommunications company American Communications.
Clover launched its wireless repair platform, Clover Wireless, in 2012 and its telecom hardware and engineering business, Clover Telecom, in 2014. Last year it formed Clover Imaging Group, which houses all of its imaging businesses.”
- June 2016: Clover Seeks to Entice Office-Equipment Dealers with ‘Greensweep’ Consumables Program
- December 2015: Sharp Expands Partnership with Clover, Enables Dealers to Combine Sharp and Clover Supplies on Same Invoice
- June 2014: Toner-Cartridge Remanufacturers Clover and MSE Announce Merger
- December 2012: Cartridge Remanufacturer Clover Offering Cash for Empties
- October 2012: Canon Wins Toner-Cartridge Patent-Infringement Litigation Against Clover Holdings
- October 2012: Toner Remanufacturer Clover Technologies Settles with Canon