Blackford Capital, a Grand Rapids-based private equity firm, has completed its investment in the U.S. business of Cartridge World through the purchase of brand licensing rights covering the United States. Financial Terms were not disclosed.
Cartridge World, headquartered in McHenry, Ill., is a franchised network of nearly 230 franchised retail store locations. Internationally, the brand has locations in 70 different countries around the globe.
“Blackford and its operating partners bring a tremendous amount of industry experience to the table in addition to their strategic, financial, and operational experience,” says Mark Pinner, CEO of Cartridge World North America. “We will benefit from Blackford’s 20-plus years of industry experience and they will serve as an extremely valuable resource to both Cartridge World and our franchisee network.”
The Cartridge World regional segment acquired in this transaction oversees a network of master franchisees in the U.S., which provides Blackford an opportunity to enhance its U.S.-based supply chain and distribution relationships. Pinner says Blackford intends to help franchisees grow their respective businesses by capitalizing on certain business model changes and taking advantage of key industry trends, such as bundling hardware and supplies, establishing longer-term contracts with customers, and focusing on the small and home office markets.
Cartridge World is among the largest international retail brand in the aftermarket imaging supplies industry. In its early days, Cartridge World was selected as the top franchiser in the United States for three years in a row.