Jacksonville, Florida-based Mac Papers, a distributor to the paper and print, packaging, facility supplies, and office markets across the southeastern U.S., announces the sale of its business to Monomoy Capital Partners, a New York City-based private equity firm, for an undisclosed sum. The sale Includes Mac Papers, Mac Papers Envelope Converters and All Square Digital Solutions.
“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 Sutton McGehee, Mac Papers president. “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, assumes the role of president and COO of Mac Papers. The rest of the 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,” say Mitchell. “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 more than 50 middle market businesses in the manufacturing, industrial, distribution and consumer products sectors.