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CARTRIDGE WORLD NEEDS CASH,PARTNERS UP WITH INVESTOR
CARTRIDGE WORLD PARTNERS UP WITH BABSON CAPITOL AUSTRALIA LTD
Cartridge World Positioned for Growth Following Successful Recapitalization
Capital Investment Allows Leading Global Cartridge Refiller to Focus on Technology Development and Franchise ExpansionEMERYVILLE, Calif.–Cartridge World, the global leader in printer cartridge refilling, announced today the successful completion of recapitalization. The new capital allows the company to focus re-investment on new technologies and strategic growth. The multi-million dollar recapitalization, facilitated by Australia-based Wolseley Private Equity, includes debt buy-back and equity investment provided by Babson Capital Australia Pty Limited. Additional investment was provided by Harry Nicodem, the U.S.-based founder and CEO of Nicodem Enterprises Inc., a multi-company entity with 20-year-old roots in laser printer cartridge remanufacturing.“This relationship will help us truly transform the backroom of our business. We can now focus on the business, on growth, and on increasing service to our business partners and customers.”“This is a great outcome for our franchisees and our investors,” says Tom Fricke, Cartridge World’s chief executive officer. “Cartridge World and our financial partners are committed to increasing our investment in technology and to expanding our franchise network. This capital investment allows us to facilitate that growth. Our organization is free to focus on what we’re truly committed to – creating great business opportunities for our franchisees within a dynamic marketplace.”Mr. Nicodem will occupy a seat on the Cartridge World board of directors. Through his company, Tonerhead, Nicodem has been a leading innovator in electronic testers for cartridge remanufacturing. The partnership will create considerable opportunities for Cartridge World.“We view our partnership with Mr. Nicodem and Tonerhead as one of the great opportunities in the industry in terms of consolidation of technology and global strength,” says Fricke. “This relationship will help us truly transform the backroom of our business. We can now focus on the business, on growth, and on increasing service to our business partners and customers.”
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