Investment funds managed by Morgan Stanley Capital Partners (MSCP), the middle-market focused private equity team at Morgan Stanley Investment Management, announced that they have completed an investment in Advanced Web Technologies Holding Company, which operates as AWT Labels & Packaging and Citation Healthcare Labels (“AWT” or the “Company”), from Mason Wells, a Midwest-based private equity firm. AWT marks MSCP’s third investment in the packaging sector, following previous investments in PPC Flexible Packaging and Comar.
Headquartered in Minneapolis, MN, AWT is a leading provider of labels and flexible packaging solutions focused on healthcare, personal care, food and beverage, household and industrial end markets. Founded in 1976, the Company operates through three facilities in the U.S. and holds a top three market position in the medical device labels and clinical trials labels segments. Through its innovative product design approach and swift speed to market, AWT helps customers address mission-critical application needs.
Eric Kanter, Managing Director of Morgan Stanley Capital Partners, said, “We are excited to partner with AWT and its talented management team. The team has built a phenomenal platform that serves attractive, defensive end markets with best-in-class R&D capabilities. We look forward to building upon the Company’s prior success by investing in assets, capabilities and the management team, and continuing to deliver innovative packaging solutions through organic initiatives and acquisitions.” Eric will become Chairman of AWT as part of the transaction.
Michelle Zeller, President of AWT, stated, “We are thrilled to partner with Morgan Stanley Capital Partners as we enter our next phase of growth. With MSCP’s support, expertise, deep industry knowledge and network in packaging, we plan to expand our current capabilities and geographic footprint while continuing to provide the highest quality products to our customers.”
Jones Day acted as legal advisor to MSCP.