Midland Paper Acquires Assets, Business of Shaughnessy, Kniep and Hawe Paper
WHEELING, Ill.—September 14, 2015—Midland Paper, Packaging + Supplies today announced that it has entered into an agreement to acquire the assets and business of Shaughnessy, Kniep, Hawe Paper Co. ("Shaughnessy"), one of the oldest and most respected independently-owned paper merchants in the U.S. Founded over 135 years ago, Shaughnessy is a full-line, full-service merchant distributor of printing and writing papers, book publishing papers, magazine and catalog papers, digital and specialty substrates, wide-format graphics, graphic supplies and packaging. The transaction is expected to close on Sept. 18, 2015.
"Shaughnessy has a long and distinguished history as one of the leading merchant distributors in the Midwest," said Stan Hooker, chairman and CEO of Midland. "We have known the owners and senior management of the company for many years and have the utmost respect for the quality of their organization and its people."
With over 130 employees, Shaughnessy is headquartered in St Louis, where it maintains its principal warehouse and administrative offices. The company also operates warehouses and sales offices in the following locations: Kansas City, Kansas, Indianapolis, Louisville, Kentucky, Springfield, Missouri, Evansville, Indiana, Des Moines, Iowa, Tulsa, Oklahoma, Houston, Chicago, Calgary, Canada, and Toronto.
Ed Kniep III, Shaughnessy chairman and CEO, commenting on the acquisition, said: "Shaughnessy is an excellent fit with Midland. Our two marketing areas are contiguous providing excellent logistical support for the divisions. Midland is strong in the packaging and publishing segments and we have extensive knowledge in wide-format graphics. Together we have a significant presence in commercial printing papers and have many of the same key suppliers."
Mike Graves, Midland President and chief operating officer, also added, "This strategic acquisition by Midland demonstrates our strong desire to grow both organically and through acquisition. We look forward to adding the accomplished professionals at Shaughnessy to our existing Midland sales and support team."
About Midland Paper, Packaging + Supplies
With over $1.0 billion in annual sales, Midland Paper, Packaging + Supplies is one of the largest independently-owned distributors of fine paper and industrial supplies in North America. Midland’s access to the world’s highest quality paper mills, packaging manufacturers and specialty substrate manufacturers combined with its commitment to provide excellent customer service and unmatched industry expertise, uniquely positions the company to be a leader in merchant distribution for years to come.
Source: Midland Paper.
