He joins Australia-based Wolseley Private Equity and Babson Capital Australia Pty Limited and will have a seat on the company’s board.
The investment will allow the company to invest in technology, R&D and new strategic growth initiatives to expand its global presence.
Commenting on the investment, Cartridge World’s CEO Tom Fricke, said: “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”.
Cartridge World has over 650 stores in the US and Canada and 1,700 stores in 60 other countries.
Ink-O-Dem provides integrated inkjet cartridge refilling and testing solutions for retail and university environments. Customers include ACE Hardware, Cartridge World, Hi-School Pharmacy, Micro Center, Walgreens, other major chain retailers, and several universities.