Mason Wells Completes Pacon Deal

Milwaukee-based private equity firm Mason Wells has completed its acquisition of Pacon Corp., a marketer of consumable school supplies and art paper. The terms of the deal were not disclosed. Greene Holcomb & Fisher served as the financial advisor to Pacon’s owners in the transaction.

PRESS RELEASE

Greene Holcomb & Fisher (“GH&F”) is pleased to announce that Pacon Corporation (“Pacon”), a leading converter and marketer of consumable school supplies and art paper sold under numerous brands such as Peacock, Tru-Ray, Fadeless and Strathmore Artist Papers, completed its sale to Mason Wells, a Milwaukee, Wisconsin-based private equity firm, and Pacon management. GH&F served as the financial advisor to Pacon’s owners in the transaction. The terms of the deal were not disclosed.

 

“The transaction allowed Pacon’s exceptional management team to partner with Mason Wells in the transaction,” said Hunt Greene, a GH&F Managing Director. “Mason Wells is an excellent fit for Pacon because of its experience in the packaging and packaged goods industry and its strong history with Midwest-based companies.”

 

“We are very excited about our new partnership with Mason Wells,” said Jim Schmitz, President and CEO of Pacon. “Their experience from years of successfully building packaging and packaged goods companies will provide Pacon with the resources necessary to support our long-term growth initiatives.”

 

Senior financing for the transaction was provided by U.S. Bank, Fifth Third Bank, Associated Bank, BMO Harris Bank and PNC Bank. Mezzanine financing was provided by PNC Mezzanine. Reinhart Boerner Van Deuren S.C. and Quarles & Brady LLP served as legal counsel to Mason Wells, and Godfrey & Kahn served as legal counsel to the sellers.

 

About Pacon, Inc.

 

Pacon Corporation is a manufacturer, converter and supplier of paper products, educational aids and arts & crafts products, marketing its products worldwide. With facilities in Appleton and Neenah, Wisconsin, as well as Barrie, Ontario, Pacon primarily sells its products into the school and art markets. In the school market, Pacon is a leading converter and marketer of consumable school supplies sold under numerous brands, including Peacock, Tru-Ray and Fadeless. In the art market, Pacon is a leading converter and marketer of art papers sold primarily under the Strathmore Artist Papers™ brand to student, professional and recreational artists. Pacon Corporation was founded in 1951 and is based in Appleton, Wisconsin. The company operates under the names Pacon Corporation, Strathmore Artist Papers™, Bemiss-Jason, Baywood ULC and Superior Specialties, Inc. For more information relating to Pacon, please visit www.pacon.com and www.strathmoreartist.com.

 

About Mason Wells

Mason Wells is a leading Midwest-based private equity firm that manages over $800 million of capital through the Mason Wells funds. Since 1982, Mason Wells has closed more than 80 transactions through the Mason Wells funds and its predecessor funds. Mason Wells focuses its investments in the Engineered Products & Services, Packaging and Packaged Goods, and Outsourced Business Services industries. Mason Wells was founded in 1982 and is based in Milwaukee, Wisconsin.