Mason Wells Newsletter 2023 – Volume 3

• Mason Wells Acquires Accord Carton, LLC
• KDV Label Acquires Selective Label & Printing
• MGS Mfg. Group, Inc. Acquires Winther Mould Technology A/S
• KDV Label, LLC Names Chris Derra as CFO
• Accord Carton Co. Wins 2022 Supplier Cup Award

Mason Wells announced that it closed the acquisition of Accord Carton, LLC, a Mason Wells Buyout Fund V, LP portfolio company, from the Codo family on May 19, 2023. Accord Carton is a leading folding carton converter primarily serving food and beverage end markets. The Company will be owned by Mason Wells, members of the Codo family, members of management, and other board members and co-investors.

Accord was founded in 1940 by Abraham Codo, the grandfather of third-generation owners, and brothers Robert and Bill Codo, who have been leading the business for nearly 30 years. Accord designs and manufactures custom folding cartons for private label and branded consumer goods, primarily focused on food and beverage end markets. Food and beverage applications include packaging for dry foods, frozen foods, and can and bottle wraps and baskets for beer, seltzer, cocktails, energy drinks, and other specialty beverage items. Accord has a unique position within the folding carton industry, offering large format production capabilities coupled with industry-leading responsiveness, speed, and flexibility. Accord serves global and regional consumer packaged goods companies throughout North America. The Company’s headquarters and operations are in Alsip, Illinois.

Since 1998, Mason Wells has invested in numerous Midwest-based companies in the packaging materials and converting sector, supporting family ownership transitions.

“We are excited about the opportunity to partner with Mason Wells and continue the Company’s growth,” said Robert Codo. “Their experience successfully building packaging businesses will provide Accord the resources to support its long-term growth initiatives. We look forward to building upon Accord’s world-class capabilities to continue providing top-notch service to existing and new customers.”

“Accord is a special company with a customer-centric culture that’s unmatched in its industry,” said Damon Thome, Director at Mason Wells. “Accord’s management, employees, and suppliers are all critical factors that have allowed the Company to consistently exceed the expectations of its customers. We believe Accord is well positioned to continue this success through attractive sector growth trends, a unique market position, and well-invested manufacturing operations.”

Deloitte Corporate Finance represented Accord, and Quarles & Brady represented Mason Wells in the transaction.

For more information, please visit the Company’s website at www.accordcarton.com.

KDV Label, LLC, a manufacturer of custom labels for food, beverage, specialty consumer goods, dairy, and petroleum products, acquired Selective Label & Printing, Inc. on July 12, 2023. This is the first acquisition for KDV, a Mason Wells Buyout Fund IV, LP portfolio company.

Located in Sugar Grove, Illinois, Selective Label is a manufacturer of pressure-sensitive and digital labels for packaging distribution, food, chemical/industrial, and other consumer end markets.

The partnership brings together Selective Label’s capabilities as a converter and printer, complementing that of KDV, running both digital and flexographic presses. Additionally, Selective Label will further solidify KDV’s Midwest presence and add new growing end markets and capabilities while providing Selective Label with a broader geographic footprint and additional printing capabilities with plants in Waukesha, Wisconsin, and Loveland, Colorado.

Commenting on the new partnership, Selective Label President Michael Brucher said, “We are excited about the opportunity to join forces with KDV. Bringing our organizations together will allow us to amplify our mutually high service standards while offering additional resources, capabilities, and geographic reach to our customers.”

“Mike and his team are a great culture fit with KDV, and they have built a comparably strong reputation for delivering excellent service and value to their customers,” said Keith Walz, President and Chief Executive Officer of KDV Label. “We are thrilled to have the Selective Label team join KDV. Both companies share many of the same philosophies, which include providing our customers with a world-class experience, developing our employees, and continually investing in state-of-the-art equipment.”

Mr. Brucher will continue in a leadership role with the Company.

For more information, please visit the Company’s website at www.kdvlabel.com.

On October 2, 2023, MGS Mfg. Group, Inc., a Mason Wells Buyout Fund IV, LP portfolio company and a global leader in end-to-end manufacturing solutions for healthcare innovators, announced the acquisition of healthcare tooling manufacturer Winther Mould Technology A/S. The investment in additional tooling capacity and expertise reinforces MGS’ offer of best-in-class speed to market and continues the Company’s strategic growth as a leading provider of high-precision plastic solutions for Pharma, Diagnostic, and MedTech applications.

Located in Denmark, Winther Mould brings 56 years of experience in design for manufacturing, mold design and manufacturing, and testing and validation to supplement MGS’ proven track record in launching and maintaining large-scale healthcare programs. In partnering with Winther Mould, MGS will add complex, premium-quality tooling and moldmaking capacity and expertise to its international network of tooling, automation, and manufacturing capabilities. Both companies offer decades of experience in meeting the needs of leading healthcare customers.

“We celebrate this new growth milestone for MGS, which further strengthens our offer of unparalleled tooling capacity to ensure the seamless launch of large-scale programs. Our expanding global footprint continues to provide healthcare innovators with end-to-end support for new product introductions and ongoing production,” said Paul Manley, President and Chief Executive Officer of MGS. “MGS and Winther Mould share a strong customer focus and commitment to agility and reliability. Together, we are poised to deliver unmatched value, precision, and dedication to our global customers to accelerate the development of innovations that improve lives.”

Kenneth Winther, General Manager of Winther Mould, expressed enthusiasm about the partnership, saying, “With MGS, we are joining a team that will take our business to the next level. We are excited to grow with an end-to-end global solutions provider to offer customers a comprehensive solution from initial concept to high-volume manufacturing and commercialization.”

MGS is expanding global access to vertically integrated solutions, with 1,200 employees at 12 locations across the United States, Mexico, Ireland, Denmark, Sweden, and Germany. Recently acquiring Denmark-based product development and design firm Technolution, MGS is evolving its unique position in the industry’s value chain with single-source engineering and manufacturing services.

For more information, please visit the Company’s website at www.mgsmfg.com.

KDV Label, LLC, a Mason Wells Buyout Fund IV, LP portfolio company and a label converter for a diverse set of consumer markets, including beverage, food, household cleaning, and personal care, recently appointed Chris Derra as Chief Financial Officer. KDV’s prior CFO, Keith Walz, will remain with the Company as Chief Executive Officer.

Ms. Derra brings over 20 years of experience in finance and operations, including tenures at Johnson Controls and, most recently, Bostik.

As Global Finance Director for the Advanced Packaging and Converting segment at Bostik, Ms. Derra built on her proven history of managing continuous process improvement, profit optimization, and revenue growth strategy formulation, as well as growing teams to achieve organizational objectives.

“KDV has an outstanding reputation along with a history of growth,” said Ms. Derra, “and I’m excited to bring my leadership and skillset to KDV to accelerate the growth trajectory.”

Ms. Derra has a strong background in implementing operational efficiencies, processes, and systems to drive successful financial results for mid-market and multinational organizations. This experience is paired with skillsets in revenue and earnings growth strategy formulation, making Ms. Derra an excellent fit for KDV.

Ms. Derra holds a Master of Business Administration from Murray State University and a Bachelor of Science degree from Marquette University.

For more information, please visit the Company’s website at www.kdvlabel.com.

Accord Carton, a Mason Wells Buyout Fund V, LP portfolio company, announced that it won the 2022 Anheuser-Busch InBev Supplier Cup for Outstanding Folding Carton Quality and Service.

Anheuser-Busch InBev highlighted Accord’s commitment to delivering the highest quality folding cartons with superior service levels as a key differentiator compared to peers. Additionally, Anheuser-Busch InBev noted that Accord has consistently exceeded supplier expectations and has set the standard for excellence in the folding carton industry.

Headquartered in Alsip, Illinois, Accord Carton is a leading folding carton converter primarily serving the food and beverage end markets.

For more information, please visit the Company’s website at www.accordcarton.com.