Clover Technologies makes its mark inside many a printer. The company makes toner cartridges for laser and inkjet printers and copiers, and sells refurbished printers. Its supplies work with devices made by such vendors as Brother, Canon, Dell, and HP. Clover's products are sold under its own Dataproducts and Genuine Recycled Cartridge brands, as well as its private label brand CTG. It also makes ink and ribbon for postage meters and magnetically charged ink and toner cartridges for check printers. The company recycles printer cartridges, cell phones, and other small electronics through its Clover Environmental unit. Golden Gate Capital and company management own Clover.
Golden Gate acquired Clover in 2010 from Key Principal Partners as part of its strategy to develop an aftermarket imaging portfolio. For Clover, the investment has allowed it to expand the company's collection and remanufacturing operations, both organically and through acquisitions. Executives -- including CEO Jim Cerliski -- of the company remain significant shareholders.
Based in Illinois, Clover operates 30-plus offices across more than a dozen countries, including North America, Europe, Asia, and the Oceania region.
Clover makes more than 2 million cartridges a month. To maintain its momentum, Clover has been expanding its facilities. It built a 15,000-sq.-ft. technology center at its Ottawa, Illinois, facility, and expanded its Canadian operation located in Oakville, Ontario. The latter move has involved relocating a warehouse and distribution center to one that is now three times the size of the former facility (boasting more than 100,000 sq. ft.).
Mergers and Acquisitions
Since being acquired by Golden Gate, Clover has gobbled up smaller competitors, such as Depot America (new and refurbished printers and parts) and Environmental Reclamation Services (recycling of printer parts and small electronics) in 2010, as part of an effort to become more vertically integrated.
In recent years, Clover has made a handful of acquisitions to grow its business. In an effort to diversify across market segments, Clover in 2013 bought American Communications, a top supplier of new and used telecommunications hardware to carriers, service providers, enterprise customers, end users, and resellers worldwide. To strengthen its business in Europe, Clover purchased K + U Printware GmbH and its subsidiary Collecture in 2012. The deal follows Clover's acquisition of Pinpoint, which makes compatible cartridges and ribbons for postage machines manufactured by Pitney Bowes and Neopost, in 2011. It built out its stable of environmental services companies with UK-based recycler Reclaim-it, Michigan-based The Wireless Source, and Missouri-based Office Products Recycling Associates (OPRA). Clover boosted its enterprise wireless devices business when it acquired California-based Full Circle Wireless, which provides wireless device buyback and reuse services. Clover has expanded geographically, as well, increasing its presence in Europe with the 2011 purchase of Switzerland-based print consumables remanufacturer TRS Group.
It also created an Australian subsidiary and added manufacturing operations in Vietnam and Singapore.
Sales and Marketing
Clover boasts sales and manufacturing locations in Germany, India, New Zealand, Portugal, Serbia, and the UK, as well as across the Americas.
In 2012, Clover logged revenues of approximately $650 million.