Mason Wells
Mason Wells is a Milwaukee-based private equity firm that has raised $2.4 billion across five buyout funds to make control-oriented investments in Midwestern US-based, family-owned middle-market companies across four sectors.
- Company typePrivate
- Founded1982
- HeadquartersMilwaukee, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Mason Wells does
Mason Wells is a Milwaukee-based private equity firm founded in 1998 by a group of professionals who previously made private investments through Marshall & Ilsley Corporation, a Wisconsin-based bank. The firm has raised $2.4 billion in aggregate across five independent buyout funds and currently invests through Mason Wells Buyout Fund V, a $767 million vehicle closed in 2021. Mason Wells partners with founders, families, and management teams of primarily Midwestern US-based businesses, making control-oriented buyouts in companies generating $25 million to $300 million in revenue with a minimum of $5 million EBITDA.
The firm concentrates its investing in four industry sectors: Consumer Packaged Goods, Engineered Products and Services, Outsourced Business Services, and Packaging Materials and Converting. Active platform investments over the firm's history include Nelipak Healthcare Packaging, Aquion, Buffalo Games, Accord Carton, Calvary Industries, and Strato Technology Solutions, among others. Deal sourcing combines proprietary field origination in Midwest business communities with intermediary relationships and a network of Executive Operating Partners who provide sector expertise, sourcing support, and board-level engagement. Each portfolio company board includes at least two Mason Wells partners.
Mason Wells generates revenue through management fees on committed and invested capital across its buyout funds and through carried interest tied to portfolio company realizations. The firm does not publicly disclose fee terms or management company financials. Its investment team of 21-plus professionals is anchored by six senior leaders who have worked together since the early 2000s, supporting a stable apprenticeship-driven talent model. The firm has been recognized by RCP Advisors as its 2025 Manager of the Year, reflecting consistent discipline and execution across fund vintages.
Mason Wells firmographics
Firmographics- Name
- Mason Wells
- Legal name
- Mason Wells, Inc.
- Website
- http://www.masonwells.com
- Company type
- Private
- Founded year
- 1982
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Mason Wells is a Milwaukee-based private equity firm that has raised $2.4 billion across five buyout funds to make control-oriented investments in Midwestern US-based, family-owned middle-market companies across four sectors.
- Ownership category
- akta.pro rank
Mason Wells industry classification
Industry- Product category
- Private Equity Investment Management
- NAICS
- Other Financial Vehicles (52599)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Large-Cap / Mega-Fund Buyout (FSANABAA)
Keywords
Where Mason Wells is headquartered
LocationHeadquarters
- HQ city
- Milwaukee
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Mason Wells business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Management Fees: Private equity firm generates revenue through management fees charged on committed capital across its five buyout funds.
- Carried Interest: Performance-based carried interest from successful portfolio company exits, typically after returning capital to investors.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Mason Wells product offering
Product offeringCore offering
Mason Wells is a private equity firm that raises and manages institutional buyout funds to acquire control-oriented equity stakes in middle-market companies, primarily headquartered in the Midwestern United States with $25 million to $300 million in revenue. The firm partners with founders, families, and incumbent management teams of these companies, providing growth and succession capital, board-level governance, sector expertise, and access to a network of Executive Operating Partners to support value creation and eventual exit. Across five independent funds the firm has raised an aggregate of $2.4 billion, with the current Mason Wells Buyout Fund V closed at $767 million.
Product overview
Mason Wells is a Milwaukee-based private equity firm offering private equity investment management services through five buyout funds (Fund I through Fund V). The firm has raised $2.4 billion in aggregate across these funds, with Fund V being the current active $767 million fund. Mason Wells focuses on investing in founders, families, and managers of primarily Midwestern US-based businesses across four industry sectors: Consumer Packaged Goods, Engineered Products and Services, Outsourced Business Services, and Packaging Materials and Converting. The firm provides control-oriented buyout investments targeting companies with $25 million to $300 million in revenue and minimum $5 million EBITDA.
Differentiator
Problem solved
Functional benefit
Products and services
- Mason Wells Buyout Fund V A $767 million private equity fund making control-oriented buyout investments in middle market companies primarily located in the Midwestern United States, targeting companies with $25 million to $300 million in revenue and minimum $5 million EBITDA across four sector verticals. This is Mason Wells's current active fund.
- Mason Wells Leveraged Buyout Fund I The first buyout fund of Mason Wells, established in 1998 with seven platform businesses, all headquartered in the Midwest and family-owned prior to partnering with Mason Wells.
- Mason Wells Buyout Fund II Second buyout fund raised in 2005, architected with similar Midwestern, family-owned focus as Fund I, enjoying comparable financial results.
- Mason Wells Buyout Fund III Third buyout fund raised in 2010, continuing the Midwestern, family-owned investment focus with consistent strategy.
- Mason Wells Buyout Fund IV Fourth buyout fund raised in 2016, maintaining the Midwestern, family-owned focus with continued investment in consumer packaged goods, engineered products, outsourced business services, and packaging sectors.
Quantifiable outcome
- Average portfolio company employee growth demonstrated through investment track record
Companies that use Mason Wells
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles2 records
Mason Wells technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Mason Wells partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Executive Operating Partners NetworkcoreNetwork of experienced industry executives who support Mason Wells throughout the investment lifecycle. EOPs assist with investment thesis development, target company identification, facilitating introductions, attending industry events, new transaction evaluation, and serving as board members or consultants to portfolio companies.
- Buy-side IntermediariesminorInvestment banking intermediaries and advisors who represent sellers in M&A transactions. Mason Wells pays finder's fees to these intermediaries consistent with applicable regulations. Four guiding principles govern these relationships: timely feedback, thoughtful communication, efficient processes, and commitment to confidentiality.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Mason Wells competitors and assessment
Company assessmentDirect peers
- Wind Point Partners: Chicago-based middle-market private equity firm with comparable size, Midwest focus, and sector emphasis on consumer products, industrial services, and business services—closely aligned with Mason Wells' strategy and target geography.
- Sterling Group: Houston-based middle-market PE firm focused on industrial, distribution, and business services companies, with similar fund size and control-buyout orientation, making it a direct comparable for Mason Wells' engineered products and outsourced services focus.
- CIC Partners: Middle-market consumer and industrial-focused PE firm of comparable fund size with a similar focus on branded consumer products and food/beverage-adjacent businesses, directly overlapping with two of Mason Wells' four sectors.
- Kainos Capital: Dallas-based middle-market PE firm specializing in consumer products, food, and retail—comparable in fund size and sector emphasis on CPG, one of Mason Wells' four core verticals.
- RoundTable Healthcare Partners: Lake Forest, Illinois-based middle-market PE firm exclusively focused on healthcare, with similar fund size and a Midwest headquarters comparable to Mason Wells—relevant given Mason Wells' healthcare packaging and manufacturing exposure through Nelipak and MGS.
- Audax Group: Boston-based middle-market private equity firm with a comparable buyout fund size, sector breadth across industrials, business services, and consumer, and a similar strategy of building value through add-on acquisitions.
- Aterian Investment Partners: Middle-market PE firm focused on industrial, consumer, and business services companies with comparable check size and operationally intensive value creation approach—directly overlapping with Mason Wells' four focus sectors.
- Centre Partners: New York-based middle-market private equity firm with a similar fund size and focus on consumer, healthcare, and business services—sharing buyout orientation and family/founder-led deal sourcing with Mason Wells.
Broad incumbents
- KKR & Co. Global mega-fund private equity firm that increasingly competes in the middle market as it deploys dry powder, making it a broader incumbent that overlaps with Mason Wells in target company size and sectors.
- Bain Capital: Global multi-strategy alternative asset manager with large-cap and middle-market private equity operations overlapping Mason Wells' industrial, consumer, and business services focus areas.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Mason Wells social profiles
Digital presenceMason Wells financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mason Wells leadership team
Management profileNumber of profiles
Profiles21 records
Mason Wells subsidiaries and ownership
Company hierarchySubsidiaries13 records
Mason Wells funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mason Wells M&A and investment
M&A and investmentM&A13 records
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mason Wells
What does Mason Wells do?
Mason Wells is a private equity firm that raises and manages institutional buyout funds to acquire control-oriented equity stakes in middle-market companies, primarily headquartered in the Midwestern United States with $25 million to $300 million in revenue. The firm partners with founders, families, and incumbent management teams of these companies, providing growth and succession capital, board-level governance, sector expertise, and access to a network of Executive Operating Partners to support value creation and eventual exit. Across five independent funds the firm has raised an aggregate of $2.4 billion, with the current Mason Wells Buyout Fund V closed at $767 million.
Is Mason Wells a public or private company?
Mason Wells is a private company. It is classified as management employee owned and is currently operating.
When was Mason Wells founded?
Mason Wells was founded in 1982. It employs 501 to 1,000 people.
Where is Mason Wells based?
Mason Wells is headquartered in Milwaukee, United States, in the North America region.
How does Mason Wells make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Mason Wells's main competitors?
Direct peers on record are Wind Point Partners, Sterling Group, CIC Partners, Kainos Capital, RoundTable Healthcare Partners, Audax Group, Aterian Investment Partners and Centre Partners. Broad incumbents are KKR & Co. and Bain Capital.
Does Mason Wells have an API?
No public API is recorded for Mason Wells.
What industry is Mason Wells in?
Mason Wells's product category is Private Equity Investment Management. Its primary akta.pro industry code is FSANABAA, Large-Cap / Mega-Fund Buyout. Its NAICS code is 52599 and its SIC code is 6199.