Mason Wells has closed its acquisition of Canworks, an Austin, Texas-based digital printer that applies designs directly to aluminum cans for the beverage industry. Financial terms were not disclosed. Canworks will be owned by Mason Wells, its founders, management, other board members and co-investors.
Brothers Ryan Thompson and Marshall Thompson founded Canworks in 2020 and invested in the deal alongside the management team. Ryan Thompson serves as CEO and Marshall Thompson as president. The company serves brands in energy, wellness, hydration, craft beer, CBD and cannabis, ready-to-drink cocktails, ciders, seltzers and kombucha.
Canworks sells digitally printed cans in various sizes, along with can ends and Pak Techs, directly to brands and co-packers, as well as through broker and distributor partners. The company highlights fast turnaround times, short-run flexibility, premium graphic design, technical support and an environmentally sustainable product. It operates five facilities in Austin, Atlanta, Vista, St Louis and Windsor, Connecticut.
"Canworks' geographic reach, technical excellence, and dedicated sales and support team make it an ideal addition to the Mason Wells family," said Damon Thome, managing director at Mason Wells. Ally Corporate Finance provided financing for the transaction, and Quarles & Brady served as legal counsel to Mason Wells. Midwest-based Mason Wells has raised $2.4 billion across five buyout funds and is currently investing from Mason Wells Buyout Fund V, a $767 million vehicle.
Source: PE Hub · Summarized by HeadlinesBriefing