Midland Paper Acquires Shaughnessy, Kniep, Hawe Paper Company
Tuesday, September 15, 2015
Press release from the issuing company
WHEELING, Illinois - Midland Paper, Packaging + Supplies today announced that it has entered into an agreement to acquire the assets and business of Shaughnessy, Kniep, Hawe Paper Company ("Shaughnessy"), one of the oldest and most respected independently-owned paper merchants in the United States. 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 September 18, 2015.
"Shaughnessy has a long and distinguished history as one of the leading merchant distributors in the Midwest," said Stan Hooker, Chairman and Chief Executive Officer 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, Missouri, where it maintains its principal warehouse and administrative offices. The company also operates warehouses and sales offices in the following locations:
Kansas City KS
Des Moines IA
Calgary AB CAN
Toronto ON CAN
"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", said Ed Kniep III, Shaughnessy Chairman and CEO.
"This strategic acquisition by Midland demonstrates our strong desire to grow both organically and through acquisition", said Mike Graves, Midland President and COO. "We look forward to adding the accomplished professionals at Shaughnessy to our existing Midland sales and support team".
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