Midwest-Focused Private Equity.
Proven. Disciplined. Forthright.

Industries we invest in

Consumer
Packaged Goods
Engineered
Products &
Services
Outsourced
Business Services
Packaging
materials &
Converting

Press Release

AWT Labels & Packaging Acquires Citation Clinical Labeling Systems

For more information, contact: Jay Radtke, Senior Managing Director 414-727-6405 or Chris Pummill, Director 414-727-6428

Minneapolis, Minnesota (August 17, 2018) – AWT Labels and Packaging (“AWT”), a Mason Wells Buyout Fund III portfolio company, announced today that it has closed on the acquisition of Citation Clinical Labeling Systems, a global leader in clinical labeling since 1963, based in Hauppauge, New York.   The business will be owned by AWT and management and will operate under the name of Citation Healthcare Labels, LLC (“Citation” or the “Company”).

Citation provides clinical trial labels for pharmaceutical and biotechnology companies, clinical research organizations, and clinical packagers.  The Company was founded in 1963 by the family of Richard Bolnick, who will remain as President of Citation, as a diversified distributor of printing and labels.  Citation’s products serve mission-critical applications by ensuring the accuracy and effectiveness of trials, improving participant safety, and helping customers introduce drugs to the market more efficiently.  The Company provides world-class product quality, project management, customer service, and speed to market, which are imperative characteristics for pharmaceutical customers.

This acquisition strengthens AWT’s commitment to the global healthcare labeling market and will allow AWT to take advantage of growth opportunities in the clinical trial label markets.  For Citation customers, they will now have access to AWT’s resources and investments in state-of-the-art print and production technologies as well as access to AWT’s Minneapolis, Minnesota facility for additional healthcare label capabilities.

Rich Bolnick, President of Citation, and Frederick Youngs, Chief Operating Officer of Citation, will continue in leadership roles with the Company and become shareholders of AWT.  The Company operates out of a single pharmaceutical and medical grade facility in Hauppauge, New York and employs approximately 100 people.  The employees and suppliers of Citation have played an integral role in the company’s success and will continue to do so in the future. 

“Citation looks forward to the next chapter of growth by joining the AWT organization.  Citation and AWT share many of the same philosophies including providing our customers with a world-class experience, a commitment to healthcare labeling and quality systems, the development of our employees, and continually investing in state-of-the-art equipment,” said Mr. Bolnick, President of Citation. “We believe the best is yet to come for our customers as they will benefit from additional facilities, personnel, and resources of the combined businesses.”

“We are excited about our acquisition of Citation. Mr. Bolnick and Mr. Youngs have spent many years building a great company with outstanding people and tremendous capabilities and we proudly welcome the Citation team to AWT,” said Jim Lundquist, President and Chief Executive Officer of AWT. “We will leverage the unique capabilities of both organizations to continue to serve our customers with world-class quality and excellent service.  The addition of Citation meaningfully increases our healthcare labeling capabilities and allows AWT to become one of the largest healthcare-focused label providers for pharmaceutical clinical trial and medical device manufacturers in the United States.”

About AWT Labels & Packaging

Founded in 1991, AWT is a narrow and wide-web converter of labels and flexible packaging for a diverse set of end markets with a particular emphasis on the healthcare market.  AWT’s primary business is converting various substrates (primarily films) into pressure-sensitive labels, shrink sleeves, extended-content labels, digital labels, flexible packaging, and other specialty products for a variety of applications and end markets including healthcare, industrial/OEM, food and beverage, household and personal care. The Company performs printing, laminating, slitting, and other converting operations utilizing modern equipment set including flexographic and digital presses.  AWT operates across three facilities with the headquarters located in Minneapolis, Minnesota which is primarily a label converter facility with some flexible packing, the recently acquired Citation facility located in Hauppauge, New York which focuses on clinical trial labels, and the South Elgin, Illinois facility that is focused exclusively on wide-web flexible packaging.  More information about AWT can be found at www.awtlabelpack.com. 

About Mason Wells

Mason Wells is a leading Midwest-based private equity firm with approximately $1.0 billion in assets under management across its current private equity funds.  Mason Wells is currently investing out of Mason Wells Buyout Fund IV, a $615 million fund.  Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors:  Outsourced Business Services, Consumer Packaged Goods, Engineered Products & Services, and Packaging Materials & Converting.  For more information related to Mason Wells, please visit our website at www.masonwells.com.

Mason Wells' Summary Overview

Download as PDF

About Mason Wells

Find out more about our history and Midwestern focus.

About Mason Wells

Contact us

We would appreciate the opportunity to discuss your specific needs and objectives.

Go to contact us

Our investment approach

Find out more about how we work with management teams.

Our investment approach

Want to discuss an opportunity?

If you have an investment opportunity meeting our criteria, please contact us.

Contact us