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Clover Update

November 25, 2019

Last week Norwest Equity Partners teamed up with the Clover Imaging Group’s management partners to effect the management buyout from 4L Holdings Group.

Norwest Equity Partners (NEP) are not new to the technology sector. In early 2016 they invested in Marco Technologies, the largest MPS service company in the United States.

Marco Technologies has 64 offices and 35,000 customers nationwide. Marco specializes in copiers/printers, business IT services, managed services and cloud services.

Under NEP’s ownership since the beginning of 2016, Marco Technologies has completed 17 acquisitions. The most recent was the acquisition of the customer base of Executive Technologies, a copier/printer and IT services company located in Iowa.

NEP’s Clover acquisition in signpost of the vertical integration of the printer technology sector in the USA and a possible indication of future trends.

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