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Group Agrees to Buy 80 Percent of Cartridge World
Cartridge World Management Buy-out Will Accelerate Expansion
Company Announces 80 Percent Acquisition of Holdings with Australian-based Private Equity Fund
EMERYVILLE,
Calif.–The world’s largest print cartridge refill and manufacturing
franchisor, Cartridge World, is moving into its next growth phase after
agreement this week for an Australian-based private equity fund and the
company’s management to buy a controlling shareholding from the two
founders, Bryan Stokes and Paul Wheeler.Wolseley Private Equity,
together with Cartridge World’s CEO, Burt Yarkin, and current
management in the USA, Australia and the United Kingdom, has agreed to
buy 80 percent of the company. Cartridge World’s business activities
will continue without major change, although the company intends to
pursue faster global expansion. The headquarters will remain in
Emeryville with regional offices in Europe and Australia.“We see
considerable opportunity to increase our worldwide presence, by
expanding the network we now have in place with our 46 master
franchisees and adding master franchisees in fast-growing countries in
Asia, Europe and South America,” Yarkin said. “The increasing use of
computers and digital cameras is boosting worldwide demand for printer
cartridges. We plan to double the number of Cartridge World locations
in the coming three years.”Wolseley Private Equity’s managing director,
Peter Hasko, said he was confident the already fast-growing franchise
group could meet future growth targets, with Wolseley’s assistance.“The
most important aspect of any investment for us is the people,” Hasko
said. “We are looking forward to working with the high calibre team at
Cartridge World.”Cartridge World is an international success story,
having already grown to more than 1,500 outlets in 45 countries since
it was founded in Adelaide, Australia, in 1987. It is the only global
company in cartridge replacement and one of the fastest growing
franchise groups in the world. Retail revenues are now more than $350
million worldwide.“Cartridge World offers comparable quality cartridges
to original equipment manufacturers, at a substantially lower price,
along with an additional benefit to the environment,” Yarkin said. “The
rising awareness of the need to recycle and reduce unnecessary waste is
helping our business.”Scope for growth is enormous. In most developed
countries less than a quarter of the printer cartridges used by
business, organizations and homes are refilled. An estimated 350
million printer cartridges go into landfills each year in North America
alone. A recycled cartridge can be refilled for approximately half the
cost of a new one and refilling reduces waste and helps the environment.About Cartridge World
Emeryville,
CA-based Cartridge World is the world’s fastest growing ink refilling
retailer in the $80 billion printer cartridge industry. The company
refills empty ink cartridges and remanufactures empty toner cartridges
for inkjet printers, laser printers, fax machines, and photocopiers
with top quality, brand-specific ink and toners; it offers consumers
and businesses a more affordable option to buying new, provides a 100%
satisfaction money-back guarantee and helps the environment by keeping
cartridges out of landfills. Voted #1 in the category of toner
replacement services by Entrepreneur Magazine Franchisee 500, Cartridge
World has more than 1,500 franchised retail locations in 45 countries.
Cartridge World North America was founded in 2003. There are currently
more than 600 locations open in the United States, with 800 locations
expected by the end of 2007. For more information call (888) 99-REFILL
or visit http://www.cartridgeworldusa.com.About Wolseley Private Equity
Wolseley
Private Equity is an independent private equity firm based in Sydney,
Australia with over $100 million under management. It invests in
companies with enterprise values between $20 million and $150 million.
Wolseley’s experienced management team works actively in assisting
companies to drive revenue and strategic value by adding to the
companies’ skills and improving governance, strategy and operational
aspects.Printer cartridge recycling facts
Printer
manufacturers have known for years that the real money is in the ink,
not the hardware. They’ve tried to keep this lucrative market to
themselves by telling consumers that printers can be damaged and
warranties voided if generic ink cartridges are used. With credible
refilling/remanufacturing options becoming available worldwide,
consumers are learning the extent to which ink prices are being
inflated. By volume, cartridge ink has become more expensive than many
luxury items. It is now more expensive than Dom Perignon or Chanel No 5
Eau De Parfum.* Almost 80% of empty cartridges are incinerated or dumped in landfills.
* In one year, if the world’s discarded cartridges were stacked
end-to-end, they would circle the earth more than three times.
*
A laser cartridge thrown into landfill can take up to 450 years to
decompose. Some components made of industrial grade plastics will take
over a thousand years to decompose.
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