M2S Group, a Wynnchurch Capital L.P. portfolio company, and Iconex LLC, an Atlas Holdings, have jointly announced that M2S Group has acquired the label solutions business of Iconex. Iconex Labels is now part of the M2S Group platform, a leader in the material science and solutions industry.

Paul Charapata will lead the combined business, and Iconex CEO Craig 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 CEO. Terms of the transaction were not disclosed.

Atlas formed Iconex in 2016 to acquire the Interactive Printer Solutions Division of NCR Corporation. Headquartered in Duluth, Georgia, Iconex is a provider of solutions that power commerce around the world. M2S Group, headquartered in Appleton, Wisconsin, is a material science and solutions company providing high-performance products in multiple industries. Iconex is M2S Group’s fourth business unit, joining Appvion, Nekoosa and Decorative Films.

“Combining Iconex with M2S Group provides additional high-performance variable print label solutions to our customers and expands our portfolio of proven technology,” says M2S CEO 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,” says Michael Sher, partner at Atlas Holdings. “Atlas wishes the Iconex Labels team continued success with M2S,” Sher adds.

“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,” says 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.”