HCI Equity Partners, a leading lower-middle-market private equity firm, is pleased to announce the sale of its portfolio company, MSI Express, to Nonantum Capital Partners, a Boston-based private equity firm. The sale was completed on March 24, 2025 and the financial terms were not disclosed.
Founded in 2008, MSI is a contract manufacturing and packaging partner for leading food and beverage brands. Today, the company has 15 locations strategically located in six states and is one of the largest food co-manufacturers in the United States.
MSI CEO Charles Weinberg stated, “MSI Express has experienced significant growth and success over the past six years with the support of HCI—not only with respect to M&A, but also from HCI’s in-house operations team. In partnership with HCI, we have created a leading player in our industry that will thrive well into the future.”
HCI Managing Partner Doug McCormick commented, “It has been our honor to work with the top-notch MSI team over the past six years. MSI is illustrative of HCI’s mandate to partner with an exceptional management team to deliver transformational growth: topline growth in excess of 10x, consummating three strategic add-on acquisitions, and growing our production capabilities from 450k sq. ft. to a national footprint of over 2.5 million sq. ft. We wish MSI well in its next chapter of growth in partnership with Nonantum.”
Houlihan Lokey served as financial advisor and Quarles & Brady LLP served as the legal advisor to MSI Express and HCI.
About HCI Equity Partners
Based in Washington, DC, HCI is a lower middle market private equity firm focused on driving transformational growth of distributors, manufacturers, and technician-based service companies that serve large, stable, fragmented industries. HCI typically partners with family- and founder-owned businesses and supports management teams in this journey. Its investment professionals provide strategy, finance, and M&A support; its in-house operations team provides functional expertise to drive profitable organic growth; and its outside advisors provide relevant industry expertise and relationships. For more information, please visit www.hciequity.com.
About MSI Express
Founded in 2008, MSI Express is a leading food and beverage manufacturing and packaging company. MSI provides engineering solutions to America’s well-known food and beverage brands. For more information, please visit www.msiexpress.com.
