Approach
Our Strategy
We don’t just buy businesses, we invest in people
We build relationships for the long-term, through partnership, trust, and collaboration
Partnership with management
Mason Wells’ investment approach begins with a special emphasis on originating its own investment opportunities. Mason Wells immerses itself in the targeted industry sectors and regional business communities of the Midwest. We seek to identify companies and managers that can benefit from a partnership with Mason Wells. In that spirit of shared stewardship, Mason Wells also prefers to partner with proven senior management teams who are willing to invest alongside us.
Midwestern focus
While we pursue attractive acquisition prospects throughout the United States, Mason Wells focuses on opportunities in the Midwest. In terms of concentration of the top 100 fundraising private equity firms across the U.S. and Canada, the Midwest United States represents only 8% of all buyout capital raised in 2022 by these firms1 while contributing 23% of 2022 U.S. GDP.2 Many Midwestern entrepreneurs prefer to deal with partners who are knowledgeable about the industries and communities in which they operate. Frequently, the representatives of large, national buyout firms who call on Midwest companies are challenged to meet these needs. As an investment firm that’s well regarded and experienced in the region, Mason Wells understands the importance of culture and community for Midwest business owners when selecting a private equity partner to build off of his or her legacy.
Map of Past and Existing Portfolio Company Headquarters
Outsourced Business Services
A&R Logistics, Inc.
Morris, IL
A&R Logistics, Inc. is a leading provider of dry bulk transportation, packaging, distribution, and logistics solutions to numerous multinational companies within the chemical and plastic industries. A&R provides a comprehensive suite of services including over-the-road transportation, transloading, packaging, warehousing, and end-to-end outsourced transportation management.
Mason Wells Buyout Fund III
Packaging Materials and Converting
AWT Labels & Packaging
Minneapolis, MN
AWT is a narrow and wide-web converter of labels and flexible packaging for a diverse set of markets including healthcare, food and beverage, personal care, household, specialty and industrial/OEM. AWT's customer base includes many blue chip leaders in the medical device, clinical pharmaceutical, medical supplies, food and beverage, personal care, household, specialty and industrial/OEM markets. AWT maintains a variety of certifications including ISO 9001:2008, Good Manufacturing Practices (GMP), Great Printer, and Safe Quality Foods (SQF).
Mason Wells Buyout Fund III
Packaging Materials and Converting
Accord Carton Co.
Alsip, IL
Accord is a leading manufacturer of custom folding cartons for private label and branded consumer goods, primarily focused on food and beverage end markets. Food and beverage applications include dry foods, frozen foods, and can and bottle wraps and baskets for beer, seltzer, cocktail, energy drink, and other specialty beverage items. Accord serves global and regional consumer packaged goods companies throughout North America.
Mason Wells Buyout Fund V
Engineered Products and Services
Aquion
Roselle, IL
Aquion is a leading provider of residential and commercial water treatment equipment. The company designs, assembles, and markets a comprehensive range of water softening, purification, and disinfection systems that are sold through multiple distribution channels worldwide. Aquion’s systems utilize a variety of water treatment technologies to eliminate harmful contaminants without the use of chemical disinfectants.
Mason Wells Buyout Fund III
Consumer Packaged Goods
Buffalo Games, LLC
Buffalo, NY
Buffalo Games is a manufacturer, innovator, and marketer of puzzles, board games, and other indoor/outdoor games for adults, children, and families in the retail and e-commerce channels. In January 2023, Eastpoint Sports Ltd., LLC, a former Mason Wells Buyout Fund IV portfolio company was merged into Buffalo Games, LLC.
Mason Wells Buyout Fund IV
Packaging Materials and Converting
Charter Nex Films, Inc.
Milton, WI
Charter NEX Films is a leading, independent manufacturer of high-quality, custom single and barrier layer polyethylene films for flexible packaging applications. The company supplies flexible packaging converters with a broad array of highly engineered film products for the food, foodservice, pet food, industrial and medical markets.
Mason Wells Buyout Fund II
Packaging Materials and Converting
Coating Excellence International, LLC
Wrightstown, WI
Leading converter of flexible packaging products for niche applications within the office, pet food, consumer staple, industrial, and specialty packaging end markets. CEI offers a unique suite of innovative packaging products based on its ability to produce products that require the utilization of a variety of substrates, highly technical water-based printing requirements, and ready-to-use converting capabilities.
Mason Wells Buyout Fund II
Consumer Packaged Goods
Converting, Inc.
Clintonville, WI
Designer, printer, converter, and marketer of paper “partyware” in the form of disposable tableware products such as napkins, plates, bowls, and cups. Founded in 1968, Converting’s core printing and converting processes include flexographic tissue printing with in-line packaging, flexographic printing with multiple plate, cup, and bowl forming and packaging lines, as well as proprietary table skirt and tablecover converting.
Mason Wells Buyout Fund II
Packaging Materials and Converting
Creative Forming, Inc.
Ripon, WI
Vertically integrated manufacturer of custom thermoformed plastic packaging products and an extruder of plastic sheet. Creative Forming sells custom-designed and engineered packaging to the food, foodservice, and consumer products industries.
Mason Wells Leveraged Buyout Fund I
Engineered Products and Services
Dedicated Computing, LLC
Waukesha, WI
Outsourced provider of embedded computers (“compute engines”) as well as integration and product lifecycle management services to OEMs and independent software vendors. Compute engines are purpose-specific computers, with or without a direct user interface, that act as the logic or processing engine driving an OEM’s equipment. Dedicated Computing’s compute engines are incorporated in a wide variety of applications including medical imaging, video security, and military simulation.
Mason Wells Buyout Fund II
Consumer Packaged Goods
EastPoint Sports Ltd., LLC
Succasunna, NJ
EastPoint Sports Ltd., LLC is a designer and importer of branded and licensed indoor and outdoor home recreational sporting goods sold through major retailers and e-commerce channels. In January 2023, Eastpoint Sports Ltd., LLC, was merged into Buffalo Games, LLC, a current Mason Wells Buyout Fund IV portfolio company.
Mason Wells Buyout Fund IV
Consumer Packaged Goods
Eddy Packing Co., Inc.
Yoakum, TX
Eddy Packing Co., Inc. is a broadly diversified, premier processor of beef, pork, and poultry products. The Company offers a complete line of fully cooked, marinated, cured, fresh, and frozen meat products, such as smoked sausage, fajita meat, pulled beef/pork/chicken, ribs, pork chops/loins, chicken breast, brisket, and other meat products.
Mason Wells Buyout Fund III
Engineered Products and Services
GAMFG Precision, LLC
Franklin, WI
Manufacturer of highly engineered, tight-tolerance, precision-machined components for diesel engines, diesel fuel injection systems, and other industrial applications. GAMFG sells directly to leading diesel OEMs and fuel system suppliers. GAMFG is the sole source supplier of diesel engine and fuel injection components on a number of diesel engine platforms characterized by high volume production and long part lives.
Mason Wells Leveraged Buyout Fund I
Outsourced Business Services
General American Corporation
Pittsburgh, PA
Provider of mortgage loan settlement services and a leading provider of mortgage fulfillment services connectivity software. General American offers its services over a proprietary Internet-enabled electronic gateway to mortgage lenders, settlement companies, title agencies, and broker closing agencies nationwide.
Mason Wells Leveraged Buyout Fund I
Engineered Products and Services
HyperEdge Corp.
Batavia, IL
Designs and markets equipment and systems that enable broadband access within the “last mile” of the telecommunications network. HyperEdge is an established provider of T1-based broadband access products. The T1 access lines enabled by HyperEdge’s products are the primary means of delivering broadband access to large and medium-sized commercial customers.
Mason Wells Leveraged Buyout Fund I
Packaging Materials and Converting
Industrial Labels Holdings Corp.
Ingleside, IL
Mason Wells Buyout Fund V
Platform Acquisitions
Industrial Labels Holdings Corp.
Ingleside, IL
IDENTCO International Company, LLC manufactures durable labels for regulated applications and harsh environments. In addition to printed and converted pressure sensitive labels, IDENTCO’s suite of solutions includes materials science expertise, precision manufacturing, serialization technology, in-house testing labs, and inventory management programs. Key end markets include electronics, power tools & equipment, transportation, and general industrials. The Company performs printing, die cutting, slitting, inspection and other converting operations utilizing modern flexographic and digital equipment. IDENTCO operates two manufacturing locations: its headquarters in Ingleside, Illinois and Monterrey, Mexico. Sales professionals reside globally in the United States, Mexico, and Europe.
Mason Wells Buyout Fund V
Reliance Label Solutions, LLC
Paola, KS
Reliance Label Solutions, LLC designs and manufactures industrial labels for hazardous chemical containers, warehouse management, and other asset-tracking applications. The Company’s products are mandated and regulated by OSHA’s Hazard Communication Standards which require labels to accurately disclose hazardous chemical content. Since its foundation in 2003, Reliance Label Solutions, LLC exceeds quality and service thresholds through the Company’s material science knowledge, precision manufacturing, and digital ordering tools.
Mason Wells Buyout Fund V
Outsourced Business Services
InterBay Technologies
St. Charles, IL
Provider of engineering, furnishment, and installation ("EF&I") services to the telecommunications industry.
Mason Wells Leveraged Buyout Fund I
Packaging Materials and Converting
KDV Label, LLC
Waukesha, WI
Founded in 1974 by Karen and Dick Vaughn, KDV is a label converter for a diverse set of consumer end markets including beverage, food, household cleaning, and personal care. KDV’s primary business is the converting of various substrates (primarily film and paper) into pressure-sensitive adhesive labels, digital labels, unsupported film labels, and other specialty labels for a variety of consumer applications. KDV puts a strong emphasis on operational efficiency to deliver quality label products within best-in-class lead times. KDV operates three manufacturing locations: the headquarters (KDV) is in Waukesha, Wisconsin, and its sister companies I-Graphics, LLC is in Loveland, Colorado, and Selective Label is in Sugar Grove, Illinois.
Mason Wells Buyout Fund IV
Outsourced Business Services
Keystone Experts + Engineers
Castle Rock, CO
Keystone Experts + Engineers is a leading, national provider of forensic engineering and consulting services for insurance carriers, third party administrators, law firms, and commercial clients. Keystone’s national network of multi-disciplinary engineers, investigators, and consultants delivers expert analysis and evidence-based reports at industry leading cycle times. Keystone is a four-time recipient of the prestigious Inc. 5000 award, which recognizes the fastest-growing private companies in the United States.
Mason Wells Buyout Fund V
Consumer Packaged Goods
King Juice Company, Inc.
Milwaukee, WI
King Juice is the manufacturer and marketer of the Calypso brand of flavored lemonades and limeades. Calypso branded beverages are sold nationwide and internationally through convenience, grocery, and other retail channels.
Mason Wells Buyout Fund IV
Engineered Products and Services
L.B. White Company, LLC
Onalaska, WI
L.B. White is a leading manufacturer of branded HVAC equipment and parts for the global swine, poultry, and construction markets. Swine and poultry growers depend on L.B. White’s heating and cooling solutions to maintain the required temperature and ventilation rates to support animal health at various ages, weights, and densities. Construction and outdoor hospitality customers use L.B. White’s commercial-grade portable heaters for temporary heating needs.
Mason Wells Buyout Fund IV
Engineered Products and Services
MGS Healthcare Manufacturing
Germantown, WI
MGS is a global supplier of injection molded plastic components, tooling, and equipment for the healthcare end market. MGS manufactures highly technical molded components in Class 7 and 8 ISO 13485-certified cleanrooms across several global facilities.
Mason Wells Buyout Fund IV
Packaging Materials and Converting
Mullinix Packages, Inc.
Fort Wayne, IN
Mullinix is a leading manufacturer of thermoformed packaging for the food industry. The company manufactures custom and stock trays, clamshells, lids, and cups for food processing, foodservice, and retail end markets. Mullinix's customer base includes branded and private label food processors, food packaging companies, quick service restaurants, and foodservice distributors.
Mason Wells Buyout Fund III
Outsourced Business Services
NGI Holdings Corp.
Minneapolis, MN
Business process outsourcing provider focused on accounts receivable management and collection services for national credit card issuers, retailers, and debt purchasers. The Company uses proprietary analytics to support a unique letter-based collection strategy and a staff of experienced call-center-based collectors. NGI primarily services later-stage receivables that have been charged off by credit card issuers.
Mason Wells Buyout Fund II
Packaging Materials and Converting
Nelipak Healthcare Packaging
Cranston, RI
Nelipak is a leading provider of custom-designed thermoformed packaging products and services for the medical device and pharmaceutical industries. The Company's products include thermoformed medical trays and blisters, pharmaceutical containers, robotic handling trays, surgical procedure trays, and lidding materials. Nelipak's global footprint spans Europe, North America, and Latin America with all locations being ISO 13485 certified.
Mason Wells Buyout Fund III
Engineered Products and Services
Oilgear Company, The
Traverse City, MI
Manufacturer of fluid power components, hydraulic pumps, valves, motors, and meters. Oilgear designs, manufactures, and installs fluid power systems. Oilgear also provides aftermarket support services.
Mason Wells Buyout Fund II
Packaging Materials and Converting
Oliver Products Company
Grand Rapids, MI
Oliver Products Company provides medical packaging solutions for Class II and III medical device OEMs, meal packaging products for foodservice markets, and niche food processing equipment with aftermarket support services.
Mason Wells Buyout Fund II
Consumer Packaged Goods
Onyx Brands
Bentonville, AR
Onyx Brands is a designer, marketer, and manufacturer of branded health & beauty and personal care products serving the retail and e-commerce channels.
Mason Wells Buyout Fund V
Consumer Packaged Goods
Pacon Corporation
Appleton, WI
Based in Appleton, Wisconsin, and founded in 1951, Pacon is the leading North American designer, manufacturer, and marketer of K-6 Educational arts and crafts and Fine Art products. In both the Education and Fine Art markets, Pacon's mission is to engage, inspire and empower teachers, students and artists to be their best by providing them with superior educational and art products. Key product categories include classroom papers, classroom décor, teaching aids, and fine art papers. With five converting operations located in the United States, Canada, and the United Kingdom, Pacon sells branded and private-label products to distributors and wholesalers, mass and specialty retailers, and online retailers. Pacon has a stable of well-known brands including Tru-Ray®, Fadeless®, Creativity Street®, and Strathmore Artist Paper™.
Mason Wells Buyout Fund III
Outsourced Business Services
Paragon Development Systems, Inc.
Brookfield, WI
Information technology integrator that provides hardware, software, and services to medium and large organizations in healthcare, government, education, and corporate sectors.
Mason Wells Buyout Fund III
Consumer Packaged Goods
Paris Presents
Gurnee, IL
Merchandiser, designer, and developer of branded and exclusive branded beauty and bath accessories for the mass merchant, drug store, and specialty beauty channel.
Mason Wells Buyout Fund III
Engineered Products and Services
Premix, Inc.
North Kingsville, OH
Manufacturer of thermoset composite molding compounds and custom molded composite parts. Premix is the second largest commercial thermoset compounder and is one of the largest independent custom molders of thermoset plastics in the U.S. Quantum Composites, Inc., a wholly-owned subsidiary of Premix, develops and manufactures state-of-the-art, high-performance, engineered structural composites utilizing advanced resins and fiber reinforcements.
Mason Wells Leveraged Buyout Fund I
Outsourced Business Services
Prime Distribution
Indianapolis, IN
Non-asset-based third-party logistics (3PL) provider specializing in warehousing, multi-vendor consolidation, cross-docking, transportation management, and other value-added logistics services. The company services medium-sized suppliers to large retailers.
Mason Wells Buyout Fund II
Outsourced Business Services
Qualus Power Services
Cincinnati, OH
Qualus Power Services Corp. provides outsourced electrical power engineering, testing, maintenance, and related services to utility, industrial, and commercial clients. The Company provides services for complex high, medium, and low voltage power applications with a particular focus on the generation and substation portions of the power grid.
Mason Wells Buyout Fund III
Outsourced Business Services
RJW Logistics Group
Woodridge, IL
RJW Logistics Group is a leading provider of retail logistics for consumer packaged goods companies supplying traditional and e-commerce retailers. RJW's supply chain solutions include Less-Than-Truckload (LTL) consolidation, freight management, warehousing, and asset-based transportation for shippers requiring retail logistics expertise.
Mason Wells Buyout Fund IV
Packaging Materials and Converting
Radius Packaging
New Berlin, WI
Radius Packaging is a leading designer and manufacturer of rigid plastic packaging products consisting of blow molded containers and injection molded lids and closures. Radius's customers include many blue chip national and regional consumer packaged goods companies and contract packagers and fillers serving a diverse set of markets, including home care, food and specialty beverage, professional cleaning, nutrition and wellness, and pet care.
Mason Wells Buyout Fund IV
Outsourced Business Services
SWAT Group, Inc.
Milwaukee, WI
SWAT installs and services radon mitigation systems in residential and commercial properties. SWAT radon mitigation systems are installed by highly-trained field service technicians located across the United States.
Mason Wells Buyout Fund IV
Engineered Products and Services
Structural Concepts Corporation
Muskegon, MI
Structural Concepts is a designer and manufacturer of temperature-controlled food and beverage display cases for foodservice establishments and supermarkets with a focus on perishables and prepared food. Structural Concepts is passionate about innovative designs that help customers present food and beverages in a format to promote health and wellness and grab ’n’ go offerings. Structural Concepts applies its deep engineering capabilities to research and develop refrigerated merchandising solutions that work better, last longer, save energy, and minimize operating costs.
Mason Wells Buyout Fund IV
Consumer Packaged Goods
Sturm Foods
Manawa, WI
Producer and packager of private label food products. Sturm provides a broad line of dry food products including hot cereals, hot cocoa, drink mixes, instant dry milk, and side dishes. Sturm’s core products enjoy a #1 or #2 private label market share and are perceived to have quality as good as or better than the national brands. Sturm sells to leading supermarket chains, mass merchandisers, and food service providers.
Mason Wells Leveraged Buyout Fund I
Engineered Products and Services
Whitehall Specialties, Inc.
Whitehall, WI
Manufacturer of custom analog and processed cheese ingredients and products for industrial, foodservice, and retail markets.
Mason Wells Buyout Fund III
Our industry sectors
Consumer packaged goods
Companies producing, packaging, and marketing consumable packaged goods for any of the following markets:
- Prepared Food
- Beverage
- Functional Ingredients
- Personal Care
- Household Products
Engineered products and services
Companies that design and manufacture high value-add components or finished goods for the following markets:
- Building Products
- Flow Control
- Foodservice Equipment
- Healthcare Products
- Specialty Chemicals
- Test & Measurement
Outsourced business services
Companies providing B2B services with differentiated, high-value solutions across a broad range of industries
- Commercial, Industrial & Residential Services
- Environmental, Infrastructure, & Utility Services
- Insurance Services
- Outsourced Professional Services
- Specialty Distribution
- Testing, Inspection, Compliance & Certification
- Transportation & Logistics
Packaging materials and converting
Non-commodity plastic or paper, flexible or rigid packaging materials companies servicing any of the following markets:
- Food & Beverage
- Health & Beauty
- Pet Care
- Healthcare
- Regulatory/Compliance
- Warehouse/Logistics
Sources
1. See Buyouts Insider Magazine (www.buyoutsinsider.com), which defines the Midwest United States as Illinois, Pennsylvania, Ohio, Michigan, Indiana, Minnesota, Wisconsin, Missouri, Iowa, Kansas, Nebraska, North Dakota, and South Dakota.
2. “GDP by State” (www.bea.gov). U.S. Bureau of Economic Analysis for the same 13 states compared to overall U.S. GDP.