Packaging thermoformer Mullinix acquired by private equity firm
Private equity firm Mason Wells has acquired thermoformed packaging manufacturer Mullinix Packages Inc. from the family of its founder, SPE's 2008 Thermoformer of the Year, George Lueken, who passed away at the age of 82 in June.
Private equity firm Mason Wells has acquired thermoformed packaging manufacturer Mullinix Packages Inc. from the family of its founder, SPE's 2008 Thermoformer of the Year, George Lueken, who passed away at the age of 82 in June. Mullinix extrudes and forms CPET, APET and PP sheet into clamshells, trays, cups and lids for the food processing, retail and restaurant industries.
In 2010, it added an 80,000-sq-ft plant in Miami Lakes, FL, joining its headquarters and original site in Ft. Wayne, IN, which has 200,000-sq-ft of manufacturing and 200,000-sq-ft of warehouse and distribution space. The company is currently undergoing $4 million 292,000-sq-ft expansion at its Ft. Wayne location, according to Mason Wells.
The Fort Wayne site runs 24/7, and the Miami Lakes, FL plant climate-controlled Grade A dairy certified facility to manufacture the company's new mx Sleeve-Redi line of products is manufactured. The company has inline extrusion of sheet, directly feeding thermoforming equipment, as well as offline extrusion set ups. The company runs prototype, 30-, 40-, and 50-inch thermoformers, with up to 100 psi of air pressure, allowing deep draw parts.
Mason Wells has invested in more than 50 companies since its 1982 founding, focusing on engineered products and services; outsourced business services; and packaging and packaged goods. Originally a subsidiary of Marshall & Ilsley Corp., Mason Wells became an independent entity in 1998. The firm is currently investing through Mason Wells Buyout Fund III, a $525 million fund raised to make control-oriented buyout investments of middle market companies primarily located in the Midwestern United States.
Source: Mason Wells
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