AWT Labels & Packaging Inc. is adding to the company's Upper Midwest manufacturing footprint through the acquisition of MacArthur Corp.
The purchase of MacArthur, based in Grand Blanc, Mich., is the first acquisition since AWT was purchased by Morgan Stanley Capital Partners in December 2020.
MacArthur makes labels, tags and functional film components for the automotive and mobility, electronics, medical technology and industrial segments, said Mesirow Financial Inc., a Chicago-based advisory firm that worked on behalf of the sellers.
The facility in Grand Blanc will continue to operate under the MacArthur name and joins AWT locations in Minneapolis, Minn., South Elgin, Ill., and Hauppauge, N.Y. The New York location operates under the Citation Healthcare Labels name.
"With AWT's strong operations expertise, broad facility network and national resources, we will continue to enhance our manufacturing and engineering capabilities," MacArthur President Tom Barrett said in a statement.
"Our cultures align in delivering lasting value to our customers and a positive working environment for our team," MacArthur CEO Christie Wong Barrett said in a statement.
The acquisition, AWT said, will broaden the firm's "end market knowledge, engineering expertise and manufacturing capabilities."
AWT CEO Bruce Hanson signaled his company will continue to look for acquisition candidates.
"MacArthur is the first acquisition made by AWT under the ownership of Morgan Stanley Capital Partners, and we are excited to continue acquiring great businesses and partnering with great teams across the Labels and Flexible Packaging space," he said in a statement.
Morgan Stanley Capital Partners purchased AWT from private equity firm Mason Wells Inc. of Milwaukee, Wis.