After weeks of speculation surrounding its future in the aftermath of reports regarding its parent company’s financial situation, Chicago-based Clover Imaging Group followed through on its business-as-usual proclamation with a significant acquisition.
The world’s largest collector and remanufacturer of printer cartridges announced last Friday that it has signed a definitive agreement to purchase LMI Solutions’ business assets. Subject to approval by the court overseeing LMI’s receivership process, Clover Imaging will purchase all of LMI’s inventory, intellectual property rights and manufacturing equipment.
Jim Cerkleski, Chairman, Clover Imaging Group, said, “The purchase of LMI’s business assets enhances our capabilities, customer reach, and demonstrates our confidence in the strength of the imaging supplies market. Clover offers the only true alternative to OEMs with significantly higher margins for our reseller partners. In addition, with the focus on environmental sustainability at an all-time high, we are seeing businesses and consumers alike abandoning single-use cartridges for our lower cost, environmentally conscious printing solutions. We are excited for the future.”
Clover said it welcomes LMI’s customers and will be providing the same superior customer service to which customers are accustomed. LMI’s customers, Clover added, will not experience any service disruption.
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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 unsurpassed in the aftermarket imaging space.
