Mac Papers Sold
Mac Papers, one of the largest merchant distributors in the southeastern United States, announced the sale of its businesses to Monomoy Capital Partners, a private equity firm with $1.6 billion in committed capital that invests in the debt and equity of middle market businesses.
The sale includes Mac Papers, Inc., Mac Paper Converters, Inc. and All Square Digital Solutions, Inc. — collectively Mac Papers. Terms of the transaction were not disclosed.
We have felt privileged to lead the business our fathers Frank and Tom started 55 years ago, and we are confident that it will continue to grow and enjoy a very bright future under Monomoy’s ownership,” says Mac Papers President Sutton McGehee. “Monomoy’s focus on excellent customer service and trusted relationships with customers and supply partners aligns perfectly with the deep-seated culture at Mac Papers. We know Monomoy is fortunate to have the best people in the business as their employees at Mac Papers and we build upon Mac Papers’ legacy and realize the significant growth opportunities for this business.”
Rick Mitchell, the company’s current chief operating officer, assumes the role of president and chief operating officer of Mac Papers. The rest of Mac Papers’ current management team, including Chief Financial Officer Greg Gay, Executive Vice President of Paper Craig Boortz, Vice President of Packaging Chris McCabe, Vice President and Regional Manager Carter Whiddon, Vice President of Purchasing Steve Collins and Vice President of Mac National Jeff Harris will continue in their roles under Monomoy ownership. Scott Sipkovsky will continue to lead the MPEC operation and Ash Weekley will continue as the business development lead for the company’s wide format business.
"We would like to congratulate and thank the McGehee family for building a premier, market-leading business in paper and packaging distribution," says Stephen Presser, Monomoy co-founder and partner. "Mac Papers is a proven, highly-regarded supplier to its diverse customer base, a true partner with its suppliers and is well-positioned for continued success in the future. Monomoy is excited to work with the Mac Papers management team and to collaborate with the company to drive long-term value for all of its customers, suppliers and employees."
Disclaimer: Please note that Facebook comments are posted through Facebook and cannot be approved, edited or declined by CleanLink.com. The opinions expressed in Facebook comments do not necessarily reflect those of CleanLink.com or its staff. To find out more about Facebook commenting please read the Conversation Guidelines.