Mac Papers (Jacksonville, Florida) one of the largest paper distributors with several locations in the southeastern United States, has announced the sale of its businesses to Monomoy Capital Partners, a private firm with $1.6 billion in committed capital that invests in the debt and equity of middle-market businesses. The sale includes Mac Papers, Mac Paper Converters and All Square Digital Solutions (collectively “Mac Papers”). Specific terms of the transaction were not disclosed.
“We would like to congratulate and thank the McGehee family for building a premier, market-leading business in paper and packaging distribution,” said Monomoy Co-founder and Partner Stephen Presser. “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.”
“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,” said 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 look forward to what the future holds for them as they partner with Monomoy to build upon Mac Papers’ legacy, and realize the significant growth opportunities for this business.”
Rick Mitchell, the company’s current Chief Operating Officer, will assume 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. “The entire Mac Papers team looks forward to working with Monomoy,” Mitchell added. “Their extensive resources and capabilities will allow us to advance the company’s many strategic and operational initiatives. We are excited to begin the next phase in our evolution as a company and to continue growing with our market-leading customer base and best-in-class suppliers.” Founded in 2005, Monomoy Capital Partners has invested in over 50 middle-market businesses in the manufacturing, industrial, distribution and consumer-products sectors.
