MAJOR PARTNER EXITS INVESTMENT INTO CLOVER TECH GROUP INC

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MAJOR PARTNER EXITS INVESTMENT INTO CLOVER TECH GROUP INC

 user 2010-09-29 at 8:31:22 am Views: 55
  • #24043

    http://www.businesswire.com/news/home/20100909005152/en
    MAJOR PARTNER EXITS INVESTMENT INTO CLOVER TECH GROUP INC
     Key Principal Partners Exits Investment in Clover Technologies Group, Inc.
    OTTAWA,
    Ill.–Key Principal Partners Corp. (“KPP”), a $1 billion private
    investment firm, has announced the sale of its shares in Clover
    Technologies Group, Inc. (Clover). Clover is the global leader in the
    recycling and remanufacturing of laser toner and inkjet cartridges. The
    company sells its products under its own brand names as well as under
    the private label brands of several large retail and
    business-to-business office product dealer customers. KPP led a $26
    million minority common equity investment in Clover that was initiated
    in June 2006. During KPP’s investment period, Clover doubled in size to
    annual revenues of over $400 million. The company was sold to a group
    comprised of Golden Gate Capital and management.

    About Key Principal Partners
    Key
    Principal Partners (“KPP”) is a $1 billion private investment firm that
    provides expansion capital to profitable middle-market companies with
    at least $30 million in revenue. The firm has the flexibility to provide
    any combination of subordinated debt, preferred equity and/or common
    equity in either non-control (minority ownership) or control (majority
    ownership) positions. KPP invests between $10 million and $40 million to
    facilitate the growth, acquisition, refinancing, deleveraging or
    liquidity needs of private company owners and their management teams.
    KPP is headquartered in Cleveland, and has additional offices in
    Greenwich and San Francisco. For additional information, please visit
    http://www.keyprincipalpartners.com.