Ceo Jim Cerkleski Comments On Clover Sale Rumours By Andy Braithwaite.
OPI has spoken to Clover Holdings CEO Jim Cerkleski following last week’s reports that the company’s private equity owners were looking to sell their stake.
Clover Holdings CEO Jim Cerkleski
Cerkleski told OPI that an article in Reuters claiming the company was exploring a sale was “misconstrued” and that, as it has done for the past 16 years, Clover was “evaluating additional investment partners”.
He confirmed that Clover had been talking to capital partners – as it regularly does – as it looks for financial sources to fund growth, investments and acquisitions.
“I don’t want to speculate on the source of the original story,” he commented, “but want to make sure customers, vendors and staff are clear on Clover’s commitment to growth, continued innovation and the expansion of our global platform, and that this growth will be driven by myself and the existing management team in conjunction with existing and potential new investment partners.”
OPI spoke to Cerkleski as he was returning to Chicago after a visit to Clover’s Mexican facility in Mexicali. This site has just been expanded with the addition of a new building and Cerkleski also confirmed the commitment to the former MSE facility in Van Nuys, California, where the lease was recently renewed until the end of 2019.
Other investments include a major new project in Vietnam as part of the growth plans of the Clover Wireless division.
The story about Clover came at the same time as a market rumour that aftermarket manufacturer Katun had been acquired by the Chinese Print-Rite group’s North American subsidiary.