Mason Wells Acquires Identco International – Combines with Reliance Label Solutions to Create Industrial Labels Platform

Press Release
Milwaukee, WI, September 24 2021

For more information, contact: Chris Pummill, Director, 414-727-6428 or Kevin Kenealey, Senior Managing Director, 414-727-6417

Mason Wells announced today that it has closed on the acquisition of IDENTCO International Corporation (“IDENTCO”) from founder Scott Lucas and his family. Mason Wells combined IDENTCO with the existing portfolio company Reliance Label Solutions, LLC (“Reliance”) to create Industrial Labels Holdings Corp. (“ILH” or the “Company”). The combination of IDENTCO and Reliance creates a diversified platform across geographies, end markets, and customers. The Company will focus on durable track & trace, compliance & regulatory, and other high-value custom printed label applications. The Company is owned by Mason Wells, Scott Lucas, management, and other co-investors.

Founded in 1986, IDENTCO is a manufacturer of durable labels for regulated applications and harsh environments. In addition to printed and converted pressure-sensitive labels, IDENTCO’s suite of solutions includes materials science expertise, precision manufacturing, serialization technology, in-house testing labs, and inventory management programs. Key end markets include electronics, power tools & equipment, auto & transportation, and general industrials. The Company performs printing, die-cutting, slitting, inspection, and other converting operations utilizing modern flexographic and digital equipment. IDENTCO operates two manufacturing locations: its headquarters in Ingleside, Illinois, and Monterrey, Mexico. Sales professionals reside globally in the United States, Mexico, and Europe. IDENTCO’s management team will remain in place and the Company will be led by President & Chief Executive Officer Scott Lucas.

Since 1998, Mason Wells has invested in numerous Midwest-based companies in the packaging materials and converting sector supporting family ownership transitions.

“We are excited about the opportunity to partner with Mason Wells and continue the Company’s growth,” said Scott Lucas, President & Chief Executive Officer. “With Mason Wells’ labels experience, financial resources, and strategic advice, we plan to invest in people and processes to take the Company to the next level. This new partnership also brings our employees new opportunities as part of a larger organization with more size and scale. We look forward to building upon our world-class material science expertise and manufacturing capabilities to provide top-notch service for existing and new customers.

“There is a long runway for growth and consolidation in the durable industrial labels sector,” said Chris Pummill, Director at Mason Wells. “By combining IDENTCO and Reliance, we created a platform to drive sustained growth, profitability, and benefits of scale. We are very pleased to have partnered with Scott and the senior leadership at IDENTCO and Reliance, who have built impressive businesses with compelling value propositions. We believe we can help the Company identify market share expansion opportunities and accelerate growth through acquisitions.”

Mesirow Investment Banking represented IDENTCO and Godfrey & Kahn represented Mason Wells in the transaction. BMO Sponsor Finance provided financing for the transaction.

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