Ian Aldridge, of Transcend Corporate Finance, has advised the shareholders of Reclaim (IT) Limited and My Cartridge Limited (together “Reclaim-it”) on their sale to Clover Technologies Inc. (“Clover”).
Reclaim-it is one of the largest UK companies dedicated to the collection of empty toner laser cartridges, inkjet cartridges, and mobile phones for recycling. Clover is considered to be the largest collector of empty cartridges in the world.
Brian Regan, Executive Vice President of Clover Environmental Solutions, said “This acquisition supports our strategy to increase our global collections footprint across multiple asset categories and will enable us to meet the increasing demand for remanufactured imaging supplies.”
Bob Milford, Managing Director of Reclaim-it, commented “Ian Aldridge’s advice in negotiating and structuring this transaction and his management of the project has been first class. As shareholders we are delighted with this very successful outcome. The sale of Reclaim-it to Clover will allow the company to expand its collection activities in the UK as well as offering enhanced services to our customers.”
Ian Aldridge, who led the transaction, said “The sale of Reclaim-it is a great example of how we can support shareholders crystallise the value of their company as well as finding strategic buyers committed to the continued development of the business and service to its customers.”