Strategic Alliance: LMI and Parts Now30 Nov, 2015 By: Sand Sinclair, Editor
Wanting to learn more about the recent partnering of LMI Solutions and Parts Now, who strategically aligned in late September, imageSource reached out to Gary Willert, president and CEO of LMI, and Mike Cox, CEO of Parts Now, for information on their new commitment. The recent acquisition of Parts Now makes the LMI family of companies the largest resource for printers, toner, parts and supplies in the world.
Phoenix, Ariz.-based LMI, a 24-year provider of remanufactured print cartridges, remanufactured printers and managed print infrastructure, made the strategic investment in Parts Now, North America’s premier value-added supplier of printer parts and related accessories, to make the companies stronger than ever by allowing a wider scope of customer service, a variety of compatible products and solutions, along with exceptional, affordable services.
Then and Now
Now a wholly-owned subsidiary of LMI, Cox says, “Being able to work with and be part of the great LMI family of companies is refreshing,” citing that LMI understands the industry in depth, versus having been operated by an outside private equity firm for the last three years. Cox admits he is pleased to trade in “bankers with spreadsheets” for industry leader LMI, admitting it’s a real game changer.
“Working together with LMI, while gaining our leadership position to provide first-class solutions and products, including parts, supplies, tech support and training, helps us to offer an alternative option to our customers at the level of an OEM,” says Cox. “Our customers have a choice.”
Headed to regaining a leadership position, Cox and Willert know the partnership is excellent for both LMI and Parts Now for “our employees and our customer base.” Cox adds that the industry and their customers will see Parts now as “a new and enhanced company that will continue to provide quality products and solutions, yet is better than ever before.”
Added Willert, “We had acquired Printers Direct and Global Printer Services last year,” adding that “all (our companies) have an impact on printing services and cost. Now you can control which toner is best for specific printers, for a streamlined, flawless process at the highest quality level.”
In essence, LMI’s investment in Parts Now will boost the productivity and overall capacity of both companies, strengthening their value propositions while enhancing their customer base, and helping their customers more effectively grow their imaging businesses.
Willert admits, “We are pleased to have the opportunity to leverage the mutual capabilities of both organizations in order to expand our efforts for existing and new customers,” noting an increase in inventory and expanded technical support, enhanced staff training and improved operations, among other aspects.
That said, now with solidified stability and a commitment to the marketplace, Parts Now will primarily function separately from LMI, and retain its OEM authorization as well as most of its employees, basically enjoying “the best of both worlds.”
Says Cox, “We’re extremely optimistic.”