October 20, 2000 -- Service Partners, LLC is pleased to announce that private equity funds managed by Monitor Clipper Partners, Inc. have made a significant investment in Service Partners, effective October 20, 2000. Based in Cambridge, Massachusetts, Monitor Clipper manages a $630 million fund that specializes in investing alongside management in growth-oriented businesses with a strong focus on customer service.
Monitor Clipper joins Quad-C and certain members of the Service Partners executive management team as the principal shareholders of Service Partners. There will be no changes in the management of Service Partners or its subsidiaries as a result of Monitor Clipper's investment. Monitor Clipper's expertise is expected to be a valuable resource in connection with the company's strategic planning. According to Service Partners' CEO Joe Carrington, "Service Partners is pleased and excited to have the Monitor Clipper funds as shareholders. Monitor Clipper and its affiliates have valuable expertise in finance, mergers and acquisitions, and logistics management. We look forward to working with our financial partners, Monitor Clipper and Quad-C, to continue to grow and expand our business."