M2S Group Acquires Iconex Labels in Transformational Combination

M2S Group, a leader in the material science and solutions industry and a Wynnchurch Capital, L.P. portfolio company, today announced the acquisition of the label solutions business (“Iconex Labels”) from Iconex, an Atlas Holdings portfolio company.

Iconex Labels is a leading provider of variable information label solutions, serving customers across e-commerce & shipping, foodservice, grocery & retail, pharmacy, and other end markets.

“Combining Iconex Labels with M2S Group will provide additional high-performance variable labels to our customers and expand our portfolio of technically differentiated and eco-friendly solutions,” said M2S Chief Executive Officer Paul Charapata. “This transaction fully aligns with our strategic growth initiatives. We are excited to welcome the Iconex Labels coworkers and customers to M2S Group and are looking forward to continued success.”

Greg Gleason, Managing Partner at Wynnchurch, added, “We are excited to add Iconex Labels to the M2S Group platform. The acquisition adds differentiated products and technical capabilities in attractive markets, while enhancing the market leadership, scale and diversification of M2S Group. We look forward to supporting management’s growth plans as we continue to expand the platform.”

Foley & Lardner LLP acted as legal advisor to M2S Group and Wynnchurch.

Wynnchurch manages a number of private equity funds with $9.2 billion of regulatory assets under management and is actively seeking investments. In June 2024, Wynnchurch acquired Hydraulic Technologies, a market leader in high-pressure hydraulic tools. Other recent investments include: Reagent, the #1 specialty distributor of hydrochloric acid in North America; Handgards, a leading distributor of foodservice products; FloWorks, a distributor of critical flow control products; and Industrial Service Solutions, a national provider of MRO-focused field, shop, and supply services.

About M2S Group:

M2S Group is a leading material science and solutions company providing high-performance products in multiple industries through its three business units: Appvion, Nekoosa, and Decorative Films. M2S Group consists of over 700 team members and serves customers across e-commerce & shipping, grocery/retail, medical/pharma, gaming, and transportation industries. For more information, please visit m2sgroup.com.

About Iconex:

Iconex is the world’s leading low-cost provider of paper receipt and highly differentiated variable print label solutions that transform business processes to drive profitability, productivity, customer satisfaction and sustainability. A tradition of innovation dating back to 1887 is woven into the fabric of Iconex’s identity beginning with the company’s invention of the paper receipt, which revolutionized business transactions. That spirit of innovation continues with the introduction of Iconex Sticky Media™, Sticky Media G2 and other patented innovations that are relied on by several of the world’s largest companies in food & beverage, retail, quick service restaurants, grocery, pharmacy, manufacturing and distribution and logistics to streamline operations, leading to an improved customer experience. For more information, please visit iconex.com.

About Wynnchurch Capital:

Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in Canada, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with $9.2 billion of regulatory assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. For more information, please visit: www​.wyn​nchurch​.com or follow us on LinkedIn.

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