Entrepreneur Of The Year
The fine print
How Edwin S. Hooker III led Midland Paper to reach its full potential
Smart Business Chicago | July 2008
In 1983, Edwin S. “Stan” Hooker III and
a partner purchased Midland Paper,
Packaging + Supplies from the jaws of
bankruptcy. His vision was to create the
premier independent wholesale distribution company for fine printing papers in
the Midwest. Hooker has never wavered
from his original vision.
Those early years presented a number
of challenges, including apprehensive
suppliers, minimal working capital,
bankers looking for personal guarantees
and a crowded market of competitors,
many of whom had substantial
resources.
Year after year, all of the profits were
invested back into the business so
Hooker could continue to build the business while gaining credibility and trust
with suppliers, customers and banks.
MPC prides itself on having a flat management structure, which enables the
company to be responsive to its employees and make key or strategic business
decisions in a relatively short period of
time. In addition, the company’s four
stockholders are actively involved in the
day-to-day business operations and practice an open-door management style. The
culture has allowed the company to double its employee base during the last five
years while maintaining a very low
turnover rate among its middle- and upper-management team. It also allowed MPC to
acquire several companies with a minimal
impact on the underlying business.
Today, the company has grown to
become one of the largest independent
paper and packaging distribution companies in the country.
HOW TO REACH: Midland Paper, Packaging + Supplies,
www.midlandpaper.com
