A private equity firm announced March 13 it acquired Jacksonville-based Mac Papers Inc. for an undisclosed price.
Monomoy Capital Partners, a New York-based firm that invests in middle market companies, bought the distributor of paper and packaging products.
Frank and Tom McGehee founded Mac Papers in 1965. Their sons now run the company, Monomoy said in a news release.
The company generates more than $600 million in sales annually, it said.
“Mac Papers is a proven, highly regarded supplier to a diverse customer base, a true partner with its suppliers and is well-positioned for continued success in the future,” Monomoy partner Stephen Presser said in the release.
“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,” Mac Papers President Sutton McGehee said in the release.
Monomoy said Mac Papers Chief Operating Officer Rick Mitchell will take over as president of the company, with Chief Financial Officer Greg Gay continuing in his position.
