Monomoy Capital Partners has acquired Katun Corp., a Minneapolis-based provider of compatible supplies, photoreceptors and parts to the imaging industry. No financial terms were disclosed.
Monomoy Capital Partners, L.P., a New York private equity fund that makes controlling investments in middle market companies, today announced that it has acquired the Katun Corporation, the world’s largest supplier of compatible supplies, photoreceptors and parts to the imaging industry. Terms of the transaction were not disclosed.
Katun provides more than 18,000 customers with toner products, photoreceptors and drums for copiers, printers and multifunctional devices from four geographic business units, seven distribution centers, and nearly two dozen sales offices located across the globe. Headquartered in Minneapolis since its inception in 1979, Katun employs more than 600 individuals as a global leader in OEM compatible consumables.
Katun will join 10 other manufacturing and distribution companies in Monomoy’s growing middle market portfolio and will benefit from the firm’s expertise in improving the operational efficiency and financial position of fundamentally strong businesses. Carlyle Singer will continue to serve as President and Chief Executive Officer of Katun under Monomoy ownership, and Katun’s current senior management team will remain in place.
“This transaction begins a new chapter in Katun’s thirty year history,” said Ms. Singer. “The Monomoy acquisition allows Katun to leverage recent technical breakthroughs in complex products into an expanded product line that will capture the growth potential in the imaging industry. Our recent product introductions in the growing color segment have again confirmed Katun’s ability to develop and provide quality compatible products that perform at or above the level of the original manufacturer’s products. In addition, Monomoy’s operational and financial resources will help strengthen Katun’s unique worldwide sourcing and distribution capabilities as we deliver new products to the market. “
“We are excited to partner with the Katun team,” said Justin Hillenbrand, a Monomoy Partner. “Katun’s strong brand recognition in the imaging industry, its reputation for exceptional quality and customer service and its worldwide reach make it an attractive addition to the Monomoy portfolio. The depth of the new products slated to be introduced later this year and in early 2009 make this a very exciting time to be stepping into an ownership position and we look forward to creating an even stronger company moving forward.”
Kirkland & Ellis, LLP provided Monomoy’s legal counsel in the acquisition and Ernst & Young provided financial and accounting diligence.
About Monomoy Capital Partners, L.P.
Monomoy Capital Partners, L.P. is a $280 million private equity fund that makes controlling investments in middle market companies. The Fund has completed 18 transactions over three years in the smaller end of the middle market and currently owns 11 businesses that collectively employ more than 6,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage meaningful growth. For additional information on Monomoy and its portfolio companies, please visit www.mcpfunds.com.
About Katun Corporation
Headquartered in Minneapolis, Katun Corporation is the world’s leading alternate supplier of imaging supplies, photoreceptors, parts and services for the office equipment industry. With nearly three decades of expertise, Katun now serves more than 18,000 customers in 150 countries. For more information, visit Katun online at www.katun.com.