Ink-O-Dem(R) CEO Harry Nicodem joins Cartridge World Board, Makes Capital Investment
Leading Innovator in Electronic Testers and Ink Refilling Equipment Adds Global Presence
CHICAGO, IL and EMERYVILLE, CA --(Marketwire - May 16, 2011) - Ink-O-Dem, the leader in integrated inkjet cartridge refilling and testing solutions for retail and university environments, announced today that its Founder and CEO, Harry Nicodem, has augmented Cartridge World's successful recapitalization effort and now occupies a seat on the company's board of directors. Mr. Nicodem's investment, along with Cartridge World's Australia-based private-equity investors, Wolseley Private Equity and Babson Capital Australia Pty Limited, bring new technology, R&D and new strategic growth initiatives to Cartridge World's global footprint.
"This opportunity marks the fulfillment of our long-term objective of being able to engage in the customer-facing aspect of the refilling business. Joining forces with the leading retailer in the refilling industry is a perfect partnership," said Harry Nicodem, CEO of Ink-O-Dem.
"We view our partnership with Mr. Nicodem and Ink-O-Dem as one of the great opportunities in the industry for consolidation of technology and global strength," says Cartridge World's CEO Tom Fricke. "This relationship will help us truly transform the backroom of our business. We can now focus on the business, growth, and on increasing service to our business partners and customers."
Ink-O-Dem is the leader in integrated inkjet cartridge refilling and testing solutions for retail and university environments. Independently tested under the strictest industry quality standards by the Rochester Institute of Technology, Ink-O-Dem inks are comparable in quality to original manufacturer inks. Delighted customers include ACE Hardware, Cartridge World, Hi-School Pharmacy, Micro Center, Walgreens, other major chain retailers, and several distinctive universities. Ink-O-Dem saved consumers approximately $50 million last year with inkjet cartridge refills. Visit http://www.inkodem.com or call (815) 331-3200 for more information.
About Cartridge World
Cartridge World is the leading resource for businesses and consumers who want to save money on their printer cartridges. Cartridge World uses state-of-the-art processes and high quality inks and toners, in addition to offering personalized service and a 100 percent product guarantee. Cartridge World offers consumers and businesses a more affordable option to buying new, provides a 100 percent satisfaction money-back guarantee and helps the environment by keeping cartridges out of landfills. Voted #1 in toner replacement services by Entrepreneur Magazine Franchise 500 for 2010, Cartridge World has over 650 Cartridge World stores in North America. For more information, call (888) 99-REFILL or visit http://www.cartridgeworld.com.