Key Takeaways
- • Milwaukee private equity firm Mason Wells has acquired Canworks, an Austin, Texas company that prints custom graphics directly onto aluminum beverage cans.
- • The deal is funded from Mason Wells Buyout Fund V, a $767 million fund, with the Thompson brothers and management co-investing alongside the firm.
- • Canworks operates five facilities in Austin, Atlanta, Vista (Calif.), St. Louis and Windsor (Conn.) and serves craft beer, energy drink, RTD cocktail, seltzer and kombucha brands.
- • Ally Corporate Finance provided financing, and Quarles & Brady served as legal counsel to Mason Wells.
Summary
Mason Wells, a private equity firm based in Milwaukee, has acquired Canworks, an Austin, Texas-based company that prints custom graphics directly onto aluminum beverage cans, according to the source report. The investment is made from Mason Wells Buyout Fund V, a $767 million fund. The Thompsons and the management team invested alongside the firm, and Canworks will be owned by Mason Wells, its founders and management, other board members and co-investors. The transaction terms beyond the fund source were not disclosed in the report.
Canworks was founded in 2020 by brothers Ryan Thompson, chief executive, and Marshall Thompson, president. The company sells digitally printed cans in several sizes, along with can ends and PakTech carriers, to beverage brands, co-packers, brokers and distributors. Its customer categories include craft beer, energy drinks, ready-to-drink cocktails, seltzers and kombucha. The company operates five facilities in Austin, Atlanta, Vista, Calif., St. Louis and Windsor, Conn.
Damon Thome, a managing director at Mason Wells, said the firm plans to invest in growth while maintaining the service standards Canworks is known for. Ally Corporate Finance provided financing for the transaction, and Quarles & Brady served as legal counsel to Mason Wells.
Canworks was founded in 2020 by brothers Ryan Thompson, chief executive, and Marshall Thompson, president. The company sells digitally printed cans in several sizes, along with can ends and PakTech carriers, to beverage brands, co-packers, brokers and distributors. Its customer categories include craft beer, energy drinks, ready-to-drink cocktails, seltzers and kombucha. The company operates five facilities in Austin, Atlanta, Vista, Calif., St. Louis and Windsor, Conn.
Damon Thome, a managing director at Mason Wells, said the firm plans to invest in growth while maintaining the service standards Canworks is known for. Ally Corporate Finance provided financing for the transaction, and Quarles & Brady served as legal counsel to Mason Wells.
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