The Business

Clarity Imaging Technologies, Inc. (www.clarityimaging.com) is a Saddle Brook, New Jersey-based developer, marketer and distributor of branded OEM-compatible laser toner cartridges and provider of outsourced printing services. Clarity’s patented “double yield” technology yields twice as many copies-per-cartridge as the comparable OEM cartridge, thereby lowering the overall cost-per-page by over 50%. Clarity’s high-quality products are marketed under the PageMax® brand and are compatible with all leading OEM printers. Clarity’s customers are predominantly blue-chip Fortune 500 companies and government agencies throughout the United States.

The Industry

Clarity is a leader in the OEM-compatible imaging consumables industry, a highly fragmented market consisting of over 1,000 remanufacturers, distributors and outsourced printing service providers. OEM-compatible laser toner providers command approximately 20% market share of the worldwide laser toner market. Clarity is unique among its competitors in that its products are manufactured using a proprietary technology that makes its products the most cost-effective solution on the market, with no comparable products made anywhere in the world.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Clarity and Champlain Capital Partners (Boston, Massachusetts and San Francisco, California). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Turbon AG (DB: TUR), a Hattingen, Germany-based manufacturer and marketer of printing consumables. Prestwick’s process included both domestic and international strategic acquirers.