M2S Group acquires Iconex Labels

M2S Group, a Wynnchurch Capital portfolio company, has acquired Iconex's label business to expand its capabilities in the material science. Iconex is the group’s fourth business unit, joining Appvion, Nekoosa and Decorative Films.

Atlas formed Iconex in 2016 to acquire the Interactive Printer Solutions Division of NCR Corporation. Headquartered in Duluth, Georgia. The M2S Group, headquartered in Appleton, Wisconsin, is one of the leading material science companies providing high-performance products in multiple industries.

‘Combining Iconex with M2S Group provides additional high-performance variable print label solutions to our customers and expands our portfolio of proven technology,’ said M2S chief executive officer Paul Charapata. ‘This transaction fully aligns with our long-term growth and diversification objectives.  We are excited to welcome the Iconex coworkers and customers to M2S Group and are looking forward to continued success.’

‘In partnership with the Iconex Leadership Team, we transformed the company’s nascent label operations into one of North America’s largest and most respected label manufacturers. Under the leadership of CEO Craig Gunckel and CFO Ira Genser, Iconex has led the label solutions market through innovative product development, superior operating performance, “best-in-class” customer service, and the seamless integration of several acquisitions,’ added Michael Sher, partner at Atlas Holdings. ‘Atlas wishes the Iconex Labels team continued success with M2S.’

‘Iconex Labels joining the M2S Group is an attractive opportunity to combine complementary businesses. Iconex Labels has grown significantly through a dedication to customers, focus on innovation, and commitment to our coworkers. I am extremely proud of all that Iconex has achieved to date and I am excited to support Paul as the labels business continues to flourish as part of the M2S Group,’ commented Craig Gunckel, chief executive officer of Iconex. ‘I especially want to thank all of our coworkers for their hard work and dedication, which made Iconex into the market leader it is today.’

Charapata will lead the combined business, and Gunckel has been named to the board of M2S Group.

The receipt solutions division of Iconex remains an independent business owned by Atlas. Craig Gunckel will continue to lead the receipt solutions business as chief executive officer.