Newsletter

2011 Mason Wells Newsletter - Volume 2

In This Issue:
• Prime Logistics Corp. Acquired by Roadrunner Transportation Services, Inc.
• Mason Wells Seeks Transportation-Related Manufacturing or Services Acquisition

Portfolio Company Updates:
• Coating Excellence International, LLC
• NEX Performance Films, Inc.
• Paragon Development Systems, Inc.
• Dedicated Computing LLC/Tushaus Computer Services

Mason Wells Announces Sale of Prime Logistics Corp.


Mason Wells recently announced the closing of the sale of Prime Logistics Corp. and its wholly-owned operating subsidiary, Prime Distribution Services, Inc., to Roadrunner Transportation Systems, Inc. Prime is a nonasset based provider of logistics and freight consolidation services.

The sale concluded a highly successful investment by Mason Wells in partnership with certain industry investors who worked closely with Mason Wells and the management team at Prime. During Mason Wells’ ownership of the Company, Prime executed on a value creation plan developed by Mason Wells and the industry investors and achieved strong growth by expanding its services, diversifying its markets, and adding new customers. Prime was able to effectively grow and improve its operations while maintaining a high level of service for its customers.

Prime’s customers ship more than one billion pounds of food and consumer goods annually to numerous retailers, distributors, and warehouses. Prime’s services are provided from state-of-the-art facilities comprising over two million square feet and include freight consolidation, inventory management, warehousing, order fulfillment, and related LTL and truckload services.

Mason Wells Seeks Transportation-Related Acquisition

Mason Wells, together with the proven transportation industry investors that Mason Wells recently worked with on Prime Logistics Corp. (the “Industry Investors”), are actively seeking to acquire a manufacturing or services business serving the transportation industry.

The Industry Investors have extensive transportation industry experience including at Wabash National (manufacturer of semi-truck trailers), American Commercial Lines (marine transportation services and equipment), United Parcel Service (integrated transportation services), and Prime Distribution Services (non-asset based third-party logistics). The Industry Investors provide Interim CEO, COO, and CFO services working with existing management teams to grow and improve transportation businesses before reducing their involvement in the business.

Mason Wells has committed capital available to rapidly pursue a transaction meeting the following criteria:

  • Manufactures transportation-related products (rail equipment, truck parts, marine equipment, etc.); or
  • Provides transportation services (intermodal services, trucking, marine services, 3PL, etc.)
  • Annual revenue of $75 to $250 million
  • Headquartered in the Midwestern United States

All inquiries will be held strictly confidential and should be directed to Ben Holbrook, Director at 414-727-6422 or via email to bholbrook@masonwells.com.

Portfolio Company Updates

Coating Excellence International, LLC was honored as the recipient of multiple printing excellence awards. CEI was honored with four awards presented by Gold Ink Awards. Two awards were for print quality and design on their industry leading woven poly bags. The other two awards honored CEI for print quality and design on their ream wrap packaging.

CEI also won second place in the Flexible Packaging Flexo Print Excellence Awards for their matte pinch promotional bag. Both of these prestigious award competitions recognize winners for the highest level of quality printing in the packaging industry. 

CEI also received recognition as one of the Top 25 Converters by Flexible Packaging. This is the fourth consecutive year that CEI has been named to this prestigious group of competitors.

 

 
NEX Performance Films, Inc. recently completed the installation of a new Windmoeller & Hoelscher 3-layer Varex Coex blown fi lm line in their Milton, Wisconsin plant. The line will add an additional 5.5 million pounds of capacity and allow NEX to continue to expand their business in high performance blown film products. The new line has the latest technology in die design, gauge control, blending, and winding to ensure that NEX customers will have superior quality film. 
Paragon Development Systems, Inc. recently announced that it plans to build a state-of the-art data center in Milwaukee County. The 50,000 square-foot data center will help customers deploy their private cloud networks more effi ciently. The facility also will provide disaster recovery services. Tushaus Computer Services, a division of Dedicated Computing, was recognized by Microsoft Corporation as Partner of the Year for the Midwest U.S. region out of a field of more than 1,400 Microsoft partners in the region. This honor is given to the partner that best demonstrates excellence in innovation and implementation of customer solutions based on Microsoft technology. Tushaus also earned Microsoft’s Central Region Cloud Partner of the Year designation among a field of 5,000 partners. The award honors the Microsoft partner who has most successfully built a thriving cloud practice, showing both innovation and results related to delivering cloud solutions to customers. Tushaus also earned the highest level of membership into the Microsoft Cloud Champions Club as a Tier 3 Cloud Champions Club Partner. Of 4,000 partners Tushaus is one of fewer than 170 companies that have qualifi ed for Tier 3. 

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