News

CoBe Capital appoints Thomas R. Carré as President of AxiSource

October 1st, 2009
AxiSource is a Canadian business-to-business office supplies distribution company.
AxiSource is a Canadian business-to-business office supplies distribution company.
AxiSource is headquartered in Toronto, Canada.
AxiSource is headquartered in Toronto, Canada.

Toronto, Ontario, Canada – CoBe Capital announces today that Thomas R. Carré has been appointed President of its portfolio company AxiSource, a Canadian business-to-business office supplies distribution company.

AxiSource, formerly Office Depot’s Canadian Business Solutions Division, was acquired by CoBe Capital as a cornerstone investment. The business generates annual revenue of more than $50 million and has plans to double its market share in the next three years.

“Thomas, who will join the company as of today, is a leader in the Canadian office supplies industry and will help lead the company into the next phase of its growth and development,” said Neal Cohen, Founder and Managing Director at CoBe Capital.

Mr. Carré most recently served as Chief Executive Officer of Lyreco, the third largest B2B office supplies distribution in Canada, and grew the business by 60% over a nine-year period. Prior to that, he held a number of senior management, marketing and sales roles during a 20 year tenure with NCF Corporation in the U.S., England and Canada.

Neal added “Thomas is an experienced senior executive with an outstanding reputation for building value in the B2B office supplies distribution industry.  He was instrumental in our evaluation, acquisition and development of our post-close operating plan.  He truly was the difference in pushing our bid over the top.”

"I am excited to join AxiSource’s senior management team,” Mr. Carré said. “Under the leadership of CoBe Capital, the company is poised for growth as we enter new markets and bring new products into our portfolio.”

About AxiSource

AxiSource is a Canadian business-to-business office supplies distribution company headquartered in Toronto, Ontario, Canada. AxiSource delivers a full assortment of every-day office supplies, as well as more robust items like furniture and printers. Its infrastructure team provides back-end data center services as well. For more information on AxiSource, please visit AxiSource.ca.

About CoBe Capital

CoBe Capital, a global private investment firm with a permanent capital base and operations in North America and Europe, delivers M&A solutions to meet the specific needs of corporate sellers looking to divest non-core operations. CoBe Capital owns and operates a diversified portfolio of companies that design, manufacture and market innovative products and services. Each of its portfolio companies strives to achieve long-term growth based on lean and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.