Kronos Foods, Inc.
Glendale, Heights, IL
Kronos Foods, Inc. is the leading manufacturer of gyros meat and baklava as well as a major producer of pita and other flatbreads, hummus, sauces, and other premium Mediterranean foods. Kronos distributes its products nationally through foodservice channels and major retailers, including broadline and specialty distributors, club stores, mass merchants, and grocery chains. Kronos also produces custom and private-label products for QSR, fast-casual, and family dining restaurant chains as well as for specialty food manufacturers.

Prospect Partners and management formed Kronos Foods, Inc. to acquire Chicago-based Kronos Products, Inc. and its affiliated distribution company in November, 2004. Kronos Foods subsequently acquired Rain Creek Baking Company of Fresno, Calif. (May, 2006), the country’s leading maker of premium baklava and other desserts sold under the retail brands Sinbad Sweets® and Rain Creek to leading club stores, mass merchandisers and grocery chains nationwide. In May 2011, Kronos also acquired the commercial baking assets of Pita King Bakery of Everett, Washington, a leading producer of Middle Eastern bread.

Mr. Glastris served as Chairman of the Board of Kronos from 2004 to 2013. Kronos was successfully sold to another private equity firm in October 2016.

SIC codes: 2013 (sausages and other prepared meat products); 5142 (packaged prepared foods); 5147 (meats and meat products); 2051-98 (bread, bakery products – except cookies); 5149-39 (foodservice – distributors)
Wrap Pack Products Corporation
Yakima, Washington
Wrap Pack Products Corporation, (now Keyes Packaging Group) is the leading producer of treated tissue wrap packaging for fresh fruit and a leading manufacturer of pulp form molded trays.

Prospect Partners acquired Wrap Pack Products (Yakima, WA) in January 2001 in partnership with then owner Steve Altmayer and long-time executive/partner Donald C. McCann. Wrap Pack was the dominant supplier of high quality treated and untreated tissue wrap packaging for fresh pears sold to growers, packers and distributors throughout the US. Wrap Pack subsequently acquired the Fruit Packaging Business Unit of Huhtamaki Foodservice, Inc. (Wenatchee, Washington), returning the business to its original name Keyes Fibre Corporation.
Wrap Pack was successfully sold in a recapitalization in 2004 to management and a financial buyer.

Mr. Glastris served as Chairman of the Board of the company from 2001 to 2004.
Knight Packaging Group, Inc.
Chicago, Illinois
Knight Packaging Group, Inc. (Knight) designs and manufactures custom-printed folding cartons and other specialty carded packaging for North American customers primarily in the food, confectionary, consumer products, pharmaceutical products, personal care, nutritional and hardware industries. Its product line includes folding cartons, stretch paks, gabletop cartons, club packs and blister cards.

Prospect Partners teamed with management and long-time executive/partner Donald C. McCann to form Knight Packaging Group in July, 2004.

In January 2007 Knight Packaging acquired H.J. Jones-Sons Ltd. of London, Ontario, Canada, a leading North American designer and manufacturer of carded and folding carton packaging.

Mr. Glastris served as Chairman of the Board of the company from 2004 to 2013.

SIC codes: 2657 (folding paperboard boxes); 2671-01 (packaging materials – manufacturers
Spirit Foodservice Products Corporation
Andover, Massachusetts
Spirit Foodservice Products is a leading manufacturer and marketer of specialty stock and custom plastic and foam disposable serving products sold worldwide through foodservice and specialty advertising distributors, restaurant chains, casinos, nightclubs and bars. Spirit, best known for its custom swizzle stick, is the market leader in the stirrers, picks and specialty straws industries. Its products also include promotional cups, napkins and servingware. Spirit provides unique and colorful ways for business owners to serve their patrons, including a custom-printing capability to help them cost-effectively advertise their establishments and improve brand awareness. Spirit manufactures its products in Dallas, Texas and Commerce, CA.

Prospect Partners teamed with long-time executive/partner Donald C. McCann and Spirit management to acquire the company in January 2006. In July 2007, Spirit subsequently acquired Master Containers, Inc. of Mulberry, FL., a manufacturer of a broad line of stock and custom foam cups, lids and containers for hot and cold beverages.

Spirit Foodservice Products Corporation was successfully sold to a multi-national strategic buyer in March 2013.
Mr. Glastris served as Chairman of the Board of the company from 2006 to 2013.
SIC Codes: 3089 (plastics products, not elsewhere classified); 2679 (converted paper and paperboard products, not elsewhere classified); 3086 (plastics foam products)
Gourmand Specialty Foods, Inc.
Herndon, Virginia
Gourmand Specialty Foods, Inc. was a producer, importer and distributor of premium branded gourmet foods and ingredients for the finest restaurants and hotels in the United States. The company operated through warehouse locations in Herndon, VA, Woodside, NY, Lyons, IL, Culver City, CA and San Francisco, CA serving a nationwide customer base of top chefs. In addition the company owned and operated Hudson Valley Foie Gras of Ferndale, NY, North America’s premium producer of foie gras and moulard duck products. The company’s full line of specialty products included truffles, foie gras, imported and artisan cheese, cured meats, specialty oils, caviar and a complete line of pastry ingredients. Gourmand Specialty Foods was founded by Prospect Partners and Leon Pinto in 1999 and was later led by CEO Michael Austin.

Gourmand Specialty Foods was exited by Prospect Partners in 2003.

Mr. Glastris served as Chairman of the Board from 1999 to 2003.
Marine Accessories Corporation
Maryville, TN
Marine Accessories Corporation is a leading manufacturer of aftermarket and OEM boat tops and marine accessories, including canvas boat covers, bimini tops, wakeboard towers and fishing/boat accessories, selling to major OEMs, catalog retailers, distributors, dealers and consumers. Marine Accessories Corporation was formed by Prospect Partners in October 1998 with the acquisition of Westland Industries, Inc. of Phoenix, Arizona. Led by CEO Rick Reyenger, add-on acquisitions included: Great Lakes Boat Top, Inc. of Vonore, TN (May 1999), Pipe Dreams of LaVergne, TN (September 1999), Fentress Marine of Largo, FL (May 2000), The Boatswain’s Locker of Jacksonville, FL (July 2000), Xtreme Marine of Loudon, TN (December 2000), Cook Manufacturing Corporation (“CMC”) of Duncan, OK (February 2001), and Monster Tower, Inc. of Alpharetta, GA (June 2006).

Marine Accessories Corporation was sold to management and a financial buyer in December 2009.

Mr. Glastris served as Chairman of the Board of the company from 1998 to 2009.

SIC codes: 2394 (canvas and related products); 3732 (boat building and repairing); 2394-01 (canvas awnings and canopies); 3089-05 (plastics for boats and other marine equipment); 3531-02 (marine related equipment); 5088-01 (marine crafts and supplies – wholesale trade); 5091-01 (watersports equipment and supplies – wholesale trade; 5551-04 (marine supplies and equipment – wholesale trade)
First Texas Products Corporation
El Paso, Texas
First Texas Products Corporation is the leading manufacturer of metal detectors for treasure hunting and consumer night vision products. Prospect Partners teamed with executive/investor Thomas Walsh to acquire First Texas from its founder in July 1999. In May 2001, First Texas acquired Night Owl Optics of New York, NY a worldwide leader in consumer night vision products which were produced in former Soviet military factories in Russia. First Texas produced Bounty Hunter brand metal detectors in a small plant in El Paso, Texas.

The company was successfully sold in a recapitalization transaction in 2003 to management and a financial buyer.

Mr. Glastris served as Chairman of the Board of the company from 1999 to 2003.
Billiard Brands, Inc.
Menomonee Falls, Wisconsin
Billiard Brands, Inc. is one of the world’s leading producers of billiard cues and related equipment, producing high-quality, two-piece billiard cues and accessories for billiard professionals and enthusiasts under the McDermott and other brands. The company designs, develops and handcrafts technically superior products that provided billiard participants enhanced performance and feel.

Prospect Partners and McDermott Cue Manufacturing Company President Larry Johns formed Billiard Brands, Inc. in June 2001. Billiard Brands’ equipment includes 200 cue models, 60 cue shafts, 30 cue cases, 50 cue accessories and professional endorsements with many of the world’s top men and women players. The company’s global sales organization distributed its portfolio of billiard equipment to thousands of dealers and billiard professionals around the world. Long-time executive/investor Nat Rosasco was named President and CEO of the company in 2007. Mr. Rosasco, a veteran of both the golf and billiard industries, had been with McDermott since 2004.

The company was sold to management and an independent investor in April 2009.

Mr. Glastris served as Chairman of the Board of the company from 2001 to 2009.

SIC codes: 2514-04 (darts and table sports equipment and supplies); 3949-08 (bowling equipment and supplies); 3949-10 (metal game room furniture)
ELM Packaging Company, LP
Memphis, Tennessee

ELM Packaging Company, LP is a manufacturer of foam polystyrene packaging products including hinged lid take-out containers, plates, bowls, egg cartons and other specialty , foodservice and grocery items. The company operates three regional plants in Memphis, TN, Troy, OH and Fullerton, CA. 
The company was formed by Donald C. McCann, Mr. Glastris and a group of investors from LaSalle Capital Group in December 1993 to purchase the former Fripp Fibre Corp. from Hong Kong Shanghai Bank following bankruptcy proceedings.

The company grew substantially and was successfully sold to management and a private equity group in 1998.

Mr. Glastris served as an individual investor and Director of the company from 1993 to 1998.
Copperfield Chimney Supply, Inc.
Fairfield, Iowa
Copperfield Chimney Supply, Inc. is the dominant specialty catalog supply company serving the chimney sweep trade. The company was founded in 1978 by Sooty Bob Daniels in Tulsa, Oklahoma and moved to Fairfield, Iowa in 1982. Copperfield currently operates warehouses in New Jersey, North Carolina, Ohio and California.

Mr. Glastris and partners at LaSalle Capital Group acquired Copperfield in partnership with Bob Daniels in December 1990. In 1992 Copperfield acquired two smaller competitors, Flue-Tech in Indianapolis, IN and Westminster Chimney Supply, Ltd. of Baltimore, MD. In 1995 Copperfield acquired Gelco Manufacturing Inc of Aberdeen, NC, a leading manufacturer of chimney caps.

The company was successfully sold in July 2000 to management and a private equity group.

Mr. Glastris served as Chairman of the Board of the company from 1994 to 2000.
Share by: