Morgan Stanley-backed AWT snaps up Canada’s Label Innovation

Based in Ottawa, Label Innovation is a custom converter and label manufacturer of precision technical products.

  • AWT has been backed by Morgan Stanley Capital Partners since 2020
  • It is a provider of custom labels and packaging for healthcare, food, beverage, personal care and specialty end markets
  • Label Innovation is AWT’s first acquisition in Canada

AWT Labels & Packaging, backed by Morgan Stanley Capital Partners, this week announced its acquisition of Label Innovation. No financial terms were disclosed.

Based in Minneapolis, Minnesota, AWT is a provider of custom labels and packaging for healthcare, food, beverage, personal care and specialty end markets. Morgan Stanley invested in the business in 2020.

Based in Ottawa, Label Innovation is a custom converter and label manufacturer of precision technical services, offering a range of flexible material converting, process design and customized supply chain management services. It works with global customers in the medical device, technology and security markets.

Label Innovation is AWT’s first acquisition in Canada.

“I’m very pleased with the added capabilities, increased footprint and strategic alignment that AWT brings to the table,” said Kelly Youngdale, President of Label Innovation, in a statement. “We see tremendous growth opportunities as part of the AWT team.”

Morgan Stanley Capital Partners, headquartered in New York, is a mid-market private equity firm. It is focused on investing in North American companies across sectors with enterprise values between $100 million to $750 million and EBITDA of $10 million to $75 million.