Minneapolis — Advanced Web Technologies Holding Co., a Minneapolis-based label and flexible packaging converter, has a new private equity owner.
New York-based Morgan Stanley Capital Partners announced Dec. 18 that it has purchased AWT from Milwaukee-based Mason Wells. Terms were not disclosed.
Founded in 1976, AWT operates as AWT Labels & Packaging and Citation Healthcare Labels. It claims a top three market position in the medical device labels and clinical trials labels segments.
Mason Wells bought the company in 2015 and added Citation Clinical Labeling Systems, a pharmaceutical label specialist in Hauppauge, N.Y., in 2018. AWT now has about 300 employees. In addition to Minneapolis and Hauppauge, it also has a flexible packaging plant in South Elgin, Ill.
AWT marks Morgan Stanley's third investment in the packaging sector, following previous investments in PPC Flexible Packaging LLC and Comar LLC.
Mason Wells has also been active in the packaging sector, with current investments in MGS Mfg. Group and Schoeneck Containers Inc.