Wrap Pack Products Corporation

In January 2001, Prospect Partners completed a transaction allowing Steve Altmayer, the owner of Wrap Pack Products, to gain significant liquidity while continuing to own a meaningful stake in his own business. Wrap Pack Products of Yakima, Washington is the leading manufacturer of treated and untreated tissue wrap used primarily to protect pears during storage and shipping.

From day one, Prospect Partners has worked as partners with Steve Altmayer in every sense—every person involved has been wholly committed to growing equity value for the mutual benefit of Wrap Pack and Prospect Partners. Seven months after the initial transaction with Prospect Partners, Wrap Pack completed the acquisition of Keyes Fibre of Wenatchee, Washington, the leading manufacturer of pulp-formed trays used to package apples. Steve Altmayer continues to manage the combined company as CEO.

The recapitalization of Wrap Pack provided Steve Altmayer financial and advisory support from Prospect Partners, allowing him the freedom to focus on growing the company. Steve was able to share his concerns and the economic burden of the company with Prospect Partners, while his continued autonomy allowed him to manage the business successfully.