July 25, 2018
The Chinese company has purchased the North American office imaging parts and supplies provider as it continues its expansion.
The acquisition formalises what Q2 calls “an already strong business relationship” between it and CET. As well as strengthening CET’s market presence in North America, the acquisition allows Q2 to take “full advantage” of its new parent company’s manufacturing capabilities, which will in turn provide Q2’s customer base with “more and unique and complex products.”
A statement concerning the acquisition announced: “CET and Q2 share the primary goal of providing high quality compatible products to improve their customer’s profitability.”
“One way to grow is to join forces with a bigger and stronger organization,” declared Joe Steinberg, partner and co-founder of Q2. “Q2 has had a close working relationship with CET for many years. We like how CET operates, the investments they are making, and the direction they are going. We are very excited to join the CET team and are confident that our united forces will benefit our customers.”
The purchase represents the latest stage of CET Group’s expansion plans, which also included its new industrial facility in Hebei Province, China, which was announced earlier this year and is scheduled to be completed imminently.
Categories : World Focus