2012 Mason Wells Newsletter - Volume 2
In This Issue:
• Mason Wells Acquires Eddy Packing Co., Inc.
• Pacon Corporation Seeks Acquisitions
• Sale of Prime Distribution Services Wins Award
Portfolio Company Updates:
• Paragon Development Systems, Inc.
• Tushaus Computer Services
• Executive Administrator Linda Elder Retires, Lisa Bredeson is Hired
Mason Wells Acquires Eddy Packing Co., Inc.
Mason Wells announced that it has acquired Eddy Packing Co., Inc. (“Eddy”). The business will be owned by Mason Wells, management, and other co-investors.
Headquartered in Yoakum, Texas, Eddy 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. In addition to owning one of the largest branded meat portfolios in its region, Eddy offers private label products to major retailers and foodservice distributors nationally.
Ronald Beeman, former owner, will continue as an investor and member of the board of directors of the company. Scott McNair, a food industry executive with broad experience, including executive positions at Schwan’s, Tyson, and ConAgra, has joined the company as chief executive officer.
“We are excited about our new partnership with Mason Wells and believe its experience in supporting growth-oriented businesses by bringing additional resources to the table will benefit Eddy’s customers, suppliers, and employees, and enable us to grow on a national level,” said Beeman.
Co-investors included McNair, Akoya Capital, Hancock Capital Partners, and the former owners of Eddy. Senior financing for the transaction was provided by BMO Capital Markets, Zions Bank, and Associated Bank. Mezzanine financing was provided by Hancock Capital Partners.
For more information on Eddy, please visit the company’s website at www.eddypacking.com.
Pacon Corporation Seeks Acquisitions
Pacon Corporation, a Mason Wells Fund III portfolio company, is actively seeking to acquire a specialty paper, educational, and/or arts & crafts products business. The search is international in scope and includes businesses outside of Mason Wells’ traditional Midwestern U.S. footprint.
The target company should possess the following characteristics:
- Converter of specialty paper products;
- Manufacturer or value-added distributor of educational and/or arts & crafts products;
- Branded and/or private label product offerings;
- Products sold through school distributors, retail, or web channels;
- $5 to $150 million of annual revenues;
- North American HQ preferred, but not required
Pacon Corporation is a leading producer of construction paper art paper, educational aids, and arts & crafts products for the school and art markets. Products are sold under numerous brands, including Peacock, Tru-Ray, Fadeless, Riverside, and Strathmore.
All inquiries will be held strictly confidential and should be directed to Jay Radtke, Director, at 414-727-6405 or via email at firstname.lastname@example.org.
Sale of Prime Distribution Services Wins M&A Advisor Award
In December 2011, the M&A Advisor announced the winners of the 10th Annual M&A Advisor Awards. The winner in the Retail Manufacturing/Distribution Category of $50 million and over was the Sale of Prime Distribution Services, Inc. to Road Runner Transportation Systems, Inc. The award winners represented the best of the M&A industry in 2011. Over 389 finalists in 41 categories were chosen. M&A advisors recognized the leading transactions, firms, and individuals.
The sale of the Mason Wells portfolio company Prime Logistics Corp. and its wholly-owned operating subsidiary, Prime Distribution Services, Inc., took place in late Summer 2011.
Portfolio Company Updates
Paragon Development Systems, Inc. (PDS) announced it has been recognized as an HP Partner in Excellence for Global Philanthropy at the 2012 HP Global Partner Conference.
The award celebrates those who have used IT to make a difference in one of four categories: giving back, education, environment, and healthcare. The award honors PDS for its development of the WhozNext® Technology Student Leadership Program. The program allows area technology educators to select students to attend the PDS Technology Conference - compliments of PDS and supporting sponsors.
Tushaus Computers Services, a division of Dedicated Computing, LLC, was recently named to Computer Reseller News (CRN) Magazine’s 2012 annual list of the Tech Elite 250. Tushaus was included in the CRN Tech Elite 250 list in previous years.
Companies named to the Tech Elite 250 list are the best-of-breed integrators who have invested in technical know-how and top-level certifications in the areas of data centers and infrastructure to provide deep technical expertise to their customers in every aspect of products, services, and support.
Executive Administrator Linda Elder Retires – Lisa Bredeson is Hired
On March 15th Linda Elder retired from her position of Executive Administrator at Mason Wells after almost 13 years with the company. Over the years Linda has worked closely with many of the managers at Mason Wells’ portfolio companies in addition to her numerous responsibilities within Mason Wells. Everyone at Mason Wells wishes Linda the best health and happiness as she enjoys her retirement.
Lisa Bredeson has recently been hired to take over Linda’s position at Mason Wells. Although Lisa will have some big shoes to fill, everyone at Mason Wells is confident that Lisa is the right person for the job. Lisa comes to Mason Wells with prior experience at AXA Equitable and Regus Management Ltd.