US government MPS provider changes hands

Cartridge Technologies (CTI), a major supplier of MPS solutions for the US federal government, has been acquired by CenterGate Capital.

0

Cartridge Technologies (CTI), a major supplier of MPS solutions for the US federal government, has been acquired by CenterGate Capital.

Middle-market private equity firm CenterGate has bought CTI from another investment firm, Broadtree Partners, which had purchased the MPS provider in 2020. Founded in 1990, CTI is a contractor to the federal government and provides managed print services, including device maintenance, to over 200 clients. It sells multiple printer brands, including Xerox, Lexmark and Toshiba.

Broadtree said that, under its ownership, CTI grew revenue by greater than 2.5x, expanded its headcount by 35%, and increased the number of devices under management by 80%.

Financial details of the transaction were not provided, but it was confirmed that CTI CEO Colin Murphy will be staying on in the role.

Rockville (MD), USA