Continuing Momentum: Boxwood has Strong Start to Second Quarter with Flagship Transaction in Label and Packing Industry
JUPITER, FL / ACCESSWIRE / April 24, 2024 / Boxwood Partners - a leading boutique middle-market M&A advisory firm - is pleased to announce the sale of MASA Corporation's (MASA) Print Division to Fortis Solutions Group LLC (Fortis). MASA is a full-service provider of custom labels, contract packaging and packaging equipment and supplies.
"We're grateful for Boxwood Partners' invaluable expertise and guidance as this divestiture of our Print Division marks an exciting next chapter in MASA's deep history in the industry," said Thomas E. Fraim, Jr., President and CEO of MASA Corporation. "After years of remaining in friendly competition with Fortis, we're thrilled to be joining their team as MASA strives to continue providing meaningful services in label printing and packaging."
The acquisition of MASA's Print Division based in Norfolk, VA and its additional Print Division facility in Decatur, AL strategically aligns with Fortis' mission to provide packaging solutions with product offerings including sensitive labels, shrink sleeves, flexible packaging, folding cartons, and label applicators.
"Over the last six decades, it's clear MASA has built a strong reputation for consistently offering top-quality services across the country," said John O. Wynne, Jr., President and CEO of Fortis Solutions Group. "As our companies now join forces, we look forward to seamlessly integrating MASA's expertise with our own offerings to deliver an enhanced product and services to our customers."
Boxwood Partners acted as the exclusive sell-side advisor to MASA on the transaction. The transaction was led by Robbie Nickle (Director). Patrick Galleher (Managing Partner), Brian Alas (Managing Director), and Madison Day (Vice President) also advised on the transaction. The terms of the deal were not disclosed.
"This transition for MASA's Print Division stresses the significance and value of strategic partnerships in the rapidly-evolving packaging solutions market," Nickle said. "We're confident this move will ultimately reveal extraordinary synergies and unlock new opportunities for the growth of both companies within the dynamic packaging industry."
Fred Campos and Austin Maller from Marcum LLP acted as accounting advisor to MASA, while John Paris and Patrick Tomlinson of Williams Mullen served as legal counsel.
About Boxwood Partners
Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm's extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm's clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About MASA Corporation
MASA Corporation is a full-service provider of Custom Labels, Contract Packaging and Packaging Equipment and Supplies with firm roots and a very rich history in the industry. Founded in 1961 and headquartered in Norfolk, Virginia, MASA features an intelligent workforce of 100+ and state-of-the-art facilities located in throughout Virginia and Alabama. From automated systems to a complete line of packaging solutions, MASA has become the go-to source for both national-level and global brands.
About Fortis Solutions Group
At Fortis Solutions Group, we provide a differentiated approach giving our customers a powerful advantage in the marketplace through industry leading lead times, quality control, color management and solutions-oriented approaches. We deliver a breadth of product offerings utilizing our outstanding flexographic, letterpress, offset and digital printing capabilities. These offerings include pressure sensitive and shrink sleeve labels, multi-ply coupon and flexible packaging printing, extended booklet printing, pouches, folding cartons, label applicators and variable data printing. Headquartered in Virginia Beach, VA, the company also has manufacturing and sales offices in Catoosa, OK, Cordova, TN, Decatur, AL, Ellington, CT, Flowery Branch, GA, High Point, NC, Lewisville, TX, Marietta, GA, Merced, CA, Montgomery, IL, Napa, CA, Norfolk, VA, Novi, MI, Orem, UT, Paso Robles, CA, Placentia, CA, Santa Fe Springs, CA, Somersworth, NH, St-Hubert, Quebec, Canada, and West Chester, OH.
Contact: mryan@fishmanpr.com, 630-981-7472
SOURCE: Boxwood Partners, LLC
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