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American TonerServ Acquires Tonertype, LLC
January2008:American
TonerServ Corp.a strategic consolidator in the highly fragmented
printer supplies and services industry, announced today effective
December 28, 2007, ATS purchased all of the assets of Tonertype of
Florida, LLC (“Tonertype”) relating to all of its product and service
offerings for approximately $4.0 million. The consideration paid
included $1.5 million in cash and approximately $2.5 million in
promissory notes.Tonertype has been engaged in the business of
print management, printing supplies and repair service since 1995.
According to unaudited financial statements provided by Tonertype,
Tonertype had approximately $5.6 million in revenue during 2007. In
accordance with the terms of the acquisition, ATS is employing the
current Tonertype management team and continuing to service Tonertype’s
customers.”Acquiring companies in the compatible toner cartridge market
has been one of our stated goals and the acquisition of Tonertype
further supports our mission,” stated Dan Brinker, CEO of ATS. “The
acquisition of Tonertype enables ATS to expand this segment of our
business, due largely to opportunities for consolidation and achieving
greater efficiencies in the market,” added Mr. Brinker. David Shaver,
founder of Tonertype, stated, “We are excited about joining the ATS
team and look forward to reaching new levels of productivity as they
execute their industry consolidation strategy.” Buddy Shaver, co-owner
of Tonertype, stated, “We will continue to provide the exceptional
quality and superior service our clients have come to know.”About American TonerServ
American
TonerServ Corp. (“ATS”) is a consolidator in the highly fragmented
printer supplies and services industry. ATS acquires, integrates and
manages independent businesses that deliver printer supplies, services
and equipment to small/mid-sized businesses. Through its consolidation
strategy, ATS plans to capture at least 3 – 5% market share ($250.0 MM
annualized revenue) of the compatible toner cartridge industry,
establishing itself as the brand of choice in the compatibles market as
Hewlett-Packard is in the OEM market. Please visit
http://www.AmericanTonerServ.com.
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