GRAND RAPIDS, Mich.,
Feb. 12, 2018 /PRNewswire/
-- Blackford Capital, a national private equity firm
headquartered in Grand Rapids,
Mich., announced its investment in Reno, Nevada-based Online Tech Stores (or
"OTS"), a wholesale distributor of aftermarket imaging supplies and
accessories, including: laser printer toner cartridges, ink
cartridges, toner, copier toner, ribbons, thermal fax consumables,
and other products and peripherals. OTS is Blackford's latest
investment in its National Growth Practice, which invests in
companies throughout the U.S., and the twelfth portfolio company
currently invested in by Blackford Capital. Debt financing was
provided by Fifth Third Bank, with support from syndicate partners
Union Bank and Zions Bank, and OFS Capital Corporation. Corporate
Finance Associates represented Online Tech Stores in the
transaction.
"Blackford brings a tremendous amount of industry experience to
the table, in addition to their strategic, financial, and
operational experience. We're thrilled to be partnering with
Blackford and their talented team as we look to continue to expand
OTS," said Bob Willmes, CEO of
Online Tech Stores. "While we've seen significant growth in the
past several years, we believe this partnership will enable OTS to
add products and capabilities to continue to best meet the needs of
our growing customer base."
Founded by Bob Willmes in 2009,
OTS is now the largest importer of toner products in the United States, offering a comprehensive
portfolio of over 3,000 products and providing industry-leading
fulfillment times through strategically located distribution
centers across the United States.
OTS's management has over 100 years of combined experience in this
industry. OTS currently employs over 100 people and operates in
five facilities.
"OTS has achieved remarkable growth since its founding," said
Martin Stein, founder and managing
director of Blackford Capital. "The company is known throughout the
industry for its quality products and superior customer service. We
see opportunities to leverage these strengths and continue to grow
the business. By partnering with CEO Bob
Willmes—a seasoned, industry veteran who has made three
previous successful business exits—and the experienced management
team at OTS, we are confident that we can build upon OTS's legacy
as a leader in the aftermarket imaging supplies market."
Blackford Capital has extensive experience in the imagine
supplies industry, having previously invested in Quality Imaging
Products, Rhinotek, and Bond Street. Additionally, Stein was named
one of the five Most Influential Industry Leaders by
"Recharger Magazine" in 2002 and 2003. Stein also served as
treasurer of the International Imaging Technology Council from 2003
– 2006, wrote numerous articles on the industry, and served as a
keynote speaker at dozens of industry trade shows.
In addition to OTS (Reno, NV),
Blackford's National Growth Practice currently includes: McClarin
Plastics (Hanover, PA) and
Snowhite Hospitality (Bloomingdale,
IL), with recent exits of Staging Concepts (Minneapolis, MN), and Key Health (Westlake Village, CA).
About Blackford Capital
Blackford Capital is a private equity firm based in Grand Rapids, Michigan, that acquires, manages
and builds family-owned, lower middle-market manufacturing,
distribution, and service companies. Blackford currently has 12
portfolio companies located across the
United States and has been recognized as one of America's
fastest growing private companies by Inc. 5000 in 2016 and 2017.
For more information, visit www.blackfordcapital.com.
About Online Tech Stores
Founded in 2009, Online Tech
Stores is headquartered in Reno,
Nevada. OTS is a wholesale distributor of compatible imaging
supplies and accessories, including: laser printer toner
cartridges, ink cartridges, toner, copier toner, ribbon and thermal
fax consumables. OTS goes to market as Supplies Wholesalers. For
more information, visit www.supplieswholesalers.com.
About Fifth Third
Fifth Third Bancorp is a
diversified financial services company headquartered in
Cincinnati, Ohio. As of
Dec. 31, 2017, the Company had
$142 billion in assets and operated
1,154 full-service Banking Centers and 2,469 ATMs with Fifth Third
branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West
Virginia, Georgia and
North Carolina. In total, Fifth
Third provides its customers with access to more than 54,000
fee-free ATMs across the United
States. Fifth Third operates four main businesses:
Commercial Banking, Branch Banking, Consumer Lending and Wealth
& Asset Management. Fifth Third is among the largest money
managers in the Midwest and, as of Dec. 31,
2017, had $362 billion in
assets under care, of which it managed $37
billion for individuals, corporations and not-for-profit
organizations through its Trust and Registered Investment Advisory
businesses. Investor information and press releases can be viewed
at www.53.com. Fifth Third's common stock is traded on the Nasdaq®
Global Select Market under the symbol "FITB." Fifth Third Bank was
established in 1858. Member FDIC.
About OFS Capital Corporation (NASDAQ: OFS)
OFS Capital Corporation (NASDAQ: OFS) is a business development
company that provides debt and minority equity capital solutions to
middle-market companies. The firm offers flexible financing to
business owners and proven management teams, helping them achieve
targeted growth, liquidity and ownership transition goals. For more
information, please visit www.ofscapital.com.
About Corporate Finance Associates—Nebraska
The
CFA—Nebraska office is the oldest and most successful mid-market,
mergers and acquisitions advisory firm in the Nebraska/Iowa
area. Founded in 1980 and based in Omaha, CFA—Nebraska focuses on serving the
needs of sellers and buyers of businesses that will be sold for
between $10 million and $100 million. For additional information, visit
www.cfaw.com/omaha. Securities offered through Silver Oak
Securities, member FINRA/SIPC. Corporate Finance Associates and
Silver Oak Securities are separate entities.
Contact:
Eric Kamstra
Blackford Capital
616.233.3160
ekamstra@blackfordcapital.com
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SOURCE Blackford Capital