Prospect Partners Invests in Knight Paper
Investment Sets Stage For Further Growth of Specialty Folding
CHICAGO, Ill.—October 4,
2004: Prospect Partners, LLC of Chicago, Illinois
is proud to announce its investment in Knight Paper Box Company,
also of Chicago. Knight designs and manufactures printed folding
cartons for a variety of customers in the confectionary and consumer-products
In the recapitalization,
Prospect Partners teamed with Knight owner and President Thomas
D. Kemp and outside investor Donald C. McCann of Memphis, Tennessee.
Mr. Kemp, who has led
the forty-year-old Knight since 1985, will continue as President
and as a major investor and shareholder in the company. All of Knight's
management team and employees will remain in their current roles.
"Tom Kemp runs a great company with a genuine focus on customer
service. We're very pleased to be his partner and are looking forward
to helping him grow his business," says William V. Glastris,
Jr., a principal at Prospect Partners.
Adds Mr. Kemp: "The
new partnership is great news for Knight, for our employees and
for our customers. We've been thinking about the future of this
company for a long time. The new capital from Prospect Partners
along with the industry experience of Don McCann, will serve all
of us well in the months and years to come as we expand our operations
and our customer base and focus on building our position as a leading
niche folding carton business."
Knight, which will operate
under the name of Knight Packaging Group, Inc., provides services
to a variety of confectionary and consumer-products customers nationwide,
including Tootsie Roll Industries, Ferrara Pan Candy Co., Russell
Stover Candies, Home Run Inn Pizza, Sanford Ink, a division of Newell
Rubbermaid, and Alva Pharmaceutical.
For Prospect Partners,
Knight represents the company's 39th investment and 19th platform.
It also is Prospect's fourth investment in a specialty packaging
Prospect Partners will
continue to seek add-on acquisitions of other specialty folding-carton