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Blackford Capital Announces Acquisition of Online Tech Stores

Monday, February 19, 2018  
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Blackford Capital has announced its investment in Reno, Nevada-based Online Tech Stores (OTS), which goes to market as Supplies Wholesalers. OTS is Blackford's latest investment in its National Growth Practice, which invests in companies throughout the United States, and it is the twelfth portfolio company currently invested in by Blackford Capital. Debt financing was provided by Fifth Third Bank, with support from syndicate partners Union Bank and Zions Bank, and OFS Capital Corp. Corporate Finance Associates represented OTS in the transaction.

"Blackford brings a tremendous amount of industry experience to the table, in addition to their strategic, financial and operational experience," said Bob Willmes, CEO, OTS. "We're thrilled to be partnering with Blackford and their talented team as we look to continue to expand OTS. While we've seen significant growth in the past several years, we believe this partnership will enable OTS to add products and capabilities to continue to best meet the needs of our growing customer base."

Founded by Willmes in 2009, OTS is now the largest importer of toner products in the United States, offering a comprehensive portfolio of more than 3,000 products and providing industry-leading fulfillment times through strategically located distribution centers across the United States. OTS's management has more than 100 years of combined experience in the industry and the company currently employs more than 100 people and operating in five facilities.

"OTS has achieved remarkable growth since its founding," said Martin Stein, founder and managing director, Blackford Capital. "The company is known throughout the industry for its quality products and superior customer service. We see opportunities to leverage these strengths and continue to grow the business. By partnering with CEO Bob Willmes — a seasoned industry veteran who has made three previous successful business exits — and the experienced management team at OTS, we are confident that we can build on OTS's legacy as a leader in the aftermarket imaging supplies market."

Blackford Capital has extensive experience in the imagine supplies industry, having previously invested in Quality Imaging Products, Rhinotek and Bond Street. Additionally, Stein was named one of the five most influential industry leaders by Recharger Magazine in 2002 and 2003. He also served as treasurer of the International Imaging Technology Council from 2003-2006, wrote numerous articles on the industry and has served as a keynote speaker at dozens of industry trade shows.

In addition to OTS, Blackford’s National Growth Practice currently includes: McClarin Plastics (Hanover, Pennsylvania) and Snowhite Hospitality (Bloomingdale, Illinois), with recent exits of Staging Concepts (Minneapolis, Minnesota) and Key Health (Westlake Village, California).

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