Mason Wells buys can printer Canworks from its $767M fund
What's the deal? Mason WellsDealroom has a profile for this one. Try Dealroom →, a Milwaukee-based private equity firm, has closed its buyout of CanworksDealroom has a profile for this one. Try Dealroom →, a direct-to-aluminum-can digital printer for the beverage industry. Founders Ryan and Marshall Thompson and Canworks' management invested alongside Mason Wells, retaining a stake. Terms were not disclosed.
What each side does: Canworks prints cans for brands across categories including energy drinks, hydration, craft beer, CBD and cannabis, ready-to-drink cocktails, and kombucha. Founded in 2020, it runs five facilities in Austin, Atlanta, Vista, St. Louis, and Windsor, Connecticut.
The acquirer: Mason Wells has raised $2.4 billion across five buyout funds since 1998. It is investing from Mason Wells Buyout Fund V, a $767 million vehicle, and targets four sectors, including consumer packaged goods and packaging materials.
The strategic rationale: The deal fits Mason Wells' packaging focus and its play on fast-growing beverage categories. "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.
Why now? The Thompson brothers framed the sale as a growth move, seeking a partner experienced in scaling similar businesses. "Our goal was to bring in a partner with significant experience scaling similar businesses at similar inflection points as Canworks," said Marshall Thompson, president of Canworks.
The deal mechanics: Ally Corporate FinanceDealroom has a profile for this one. Try Dealroom → provided financing, and Quarles & Brady advised Mason Wells as legal counsel. Canworks will be owned by Mason Wells, the founders, management, and co-investors.
The signal: Private equity continues to back can-decorating and packaging suppliers as beverage brands chase shelf differentiation in crowded categories. Backing a five-year-old startup rather than an established player underscores how fast short-run, digital can printing has become a strategic niche.
Read more: vcaonline.com
Image credit: Generated with Gemini
