Cyprium Partners Corp. Announces Exit from Clover Technologies Group, INC.
Ottawa, IL– September 9, 2010 – Key Principal Partners Corp. (“KPP”), a $1 billion private investment firm, has announced the sale of its shares in Clover Technologies Group, Inc. (Clover). Clover is the global leader in the recycling and remanufacturing of laser toner and inkjet cartridges. The company sells its products under its own brand names as well as under the private label brands of several large retail and business-to-business office product dealer customers. KPP led a $26 million minority common equity investment in Clover that was initiated in June 2006. During KPP’s investment period, Clover doubled in size to annual revenues of over $400 million. The company was sold to a group comprised of Golden Gate Capital and management.
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.