Milwaukee private equity firm Mason Wells announced it has acquired Minneapolis-based Advanced Web Technologies LLC.
Advanced Web will continue to do business independently as AWT Labels & Packaging. Its ownership group now includes Mason Wells, current management and other co-investors.
The company has facilities in Minneapolis and South Elgin, Ill. AWT converts labels and flexible packaging for the health care, food and beverage, personal care, household, specialty and industrial/OEM markets. Among its converting specialties are pressure sensitive and digital labels, laminating multi-layer film structures, shrink sleeves and extended content labels.
Mason Wells indicated in a release that the employees and suppliers of AWT will remain with the company, and that it will invest in new and upgraded capacity to accommodate AWT’s growth. Leaders at the private equity firm could not be reached for comment.
“We are excited about the opportunity to partner with Mason Wells and continue expanding our capabilities,” said Jim Lundquist, president and chief executive officer of AWT. “With Mason Wells’ strong financial backing, we plan to strategically expand our current business footprint. The entire AWT management team will remain intact and we continue to focus on the mission of providing solutions that help reduce our customers’ Total Applied Costs.”
Mason Wells is currently investing through its $525 million Mason Wells Buyout Fund III. The firm focuses on the consumer packaged goods, engineered products & services, outsourced business service and packaging materials & converting industries.
“Mason Wells is pleased to be partnering with AWT’s management team to support the company’s growth initiatives,” said Jay Radtke, managing director of Mason Wells. “AWT has a 35 year history of providing high quality, technically challenging labels, particularly in the healthcare segment. The company’s skilled workforce, technical capabilities, sales organization, state-of-the-art equipment and experienced management team are all factors that have allowed the company to consistently meet the expectations of its customers. We believe the company provides an excellent platform for growth and is well positioned to capitalize on a number of market and new product opportunities.”