Clover Imaging Group Acqusition Completed
Norwest Equity Partners (NEP) and the Clover Imaging Group executive leadership team have partnered together to acquire Clover Imaging Group (CIG) from 4L Holdings (which operates as the Clover Technologies Group).
The transaction closed on December 16th, with financial terms of the transaction were not disclosed.
As a result of the transaction, Clover Imaging Group will operate as its own independent standalone entity and will no longer be affiliated with 4L Holdings, the Clover Technologies Group or Clover Wireless.
On December 11th, 4L Holdings, which previously owned Clover Imaging Group, announced it would be filing Chapter 11 bankruptcy protection. As an independent company now, Clover Imaging Group will not be involved with any of those proceedings.
Founded in 1996, Clover Imaging’s business spans 43 countries, with manufacturing, distribution, collections and sales locations across North America, South America, Asia,and Europe. Clover Imaging is headquartered in Chicago and employs approximately 5,000 people across the globe.
- December 2019: 4L Announces Debt Restructuring Agreement
- November 2019: Private-Equity Firm, Management to Acquire Clover Imaging
- October 2019: New Clover Jumpstart Financing Program for Dealers
- September 2019: Clover Completes Acquisition of LMI Assets
- September 2019: Clover Imaging Acquires Competitor’s Assets
- July 2019: Clover Launches Amazon Content Platform to Protect Resellers
- July 2019: Clover Seeks to Reassure Customers
- July 2019: Moody’s Downgrades Clover Technologies’ Debt Rating