Investment firm Morgan Stanley buys AWT Labels & Packaging
Founded in 1976, Minneapolis, Minn.-based AWT is said to hold a top three market position in the medical device labels and clinical trials labels segments.
Advanced Web Technologies Holding Co. (AWT), a Minneapolis-based provider of labels and flexible packaging for the healthcare, personal care, and food and beverage markets, has been acquired by New York-based investment firm Morgan Stanley Capital Partners.
The financial terms of the deal have not been disclosed.
Founded in 1976, AWT is said to hold a top three market position in the medical device labels and clinical trials labels segments, and operates through three facilities in the U.S.: its headquarters in Minneapolis, which focuses primarily on label converting; a flexible packaging plant in South Elgin, Ill.: and a manufacturing facility in Long Island, N.Y. The company employs about 300 workers.
With [Morgan Stanley’s] support, expertise, deep industry knowledge and network in packaging, we plan to expand our current capabilities and geographic footprint while continuing to provide the highest quality products to our customers,” Michelle Zeller, president of AWT, said in a news release.
AWT marks Morgan Stanley’s third investment in the packaging sector, following previous investments in PPC Flexible Packaging and Comar.