L-R, Bob King, Justin Pretasky and Mike Marty (Credit: La Crosse Tribune)
The founders of Laser Product Technologies have sold their business to custom label print services provider, DuraTech Industries Inc.
Almost thirty years ago, Laser Product Technologies was founded by Mike Marty and Bob King. Now, both in their early seventies, the pair have made the decision to sell their business and retire, handing Laser Product Technologies over to DuraTech.
As the La Crosse Tribune explains, Marty and King’s business “is best-known for remanufacturing toner cartridges for use in laser printers and multifunctional devices”, with remanufactured cartridges still making up approximately a third of sales for the company.
Laser Product Technologies also offers print management services, which is “the fastest-growing part of its business” and involves the installation of specialist computer software which monitors things such as toner levels, how many pages have been printed, and whether or not a customer’s device needs maintenance.
The sales and servicing of printers, computers, copiers and other similar products account for the final third of the company’s business.
Laser Product Technologies “has about 2,500 customers”, some of whom “have offices around the nation”, thereby expanding the reach of the company’s services and products.
DuraTech’s part-owner, Justin Pretasky, explained that, “We’re going to expand a bit on the solution side of the business. We’ll be offering laptops, computers, power back-ups and security for computer and operating systems, things like that.”
He also revealed that Laser Product Technologies was one of just 50 Hewlett Packard Premium Partners in the USA, and noted that the company would continue to do business under its current name.
Laser Product Technologies was founded by King and Marty after the two men discovered the concept of remanufacturing a Chicago computer trade show. Since its launch in 1989, the business has “remanufactured more than 500,000 toner cartridges”, each cartridge having the potential to be remanufactured “seven to ten times before wearing out and having its parts recycled.”
The appeal of these remanufactured products lies in their environmentally friendly nature and the fact that buying these cartridges can save customers “30 to 40 percent” compared to buying an OEM cartridge.
Explaining he had decided to purchase the company, Pretasky said, “What was interesting to me was the niche market that they have. They provide the print management services and sell equipment to customers, but also remanufacture (toner cartridges) and truly help customers go green. They’re 100 percent focused on helping customers save money and run their business.”
Marty and King had received a previous offer from a competitor but turned it down, fearing potential job losses for the company’s 16 employees.
“The reason we went with who we did (DuraTech and Pretasky) is we wanted the legacy to continue,” King said.
