LLR Partners has invested in CompoSecure, a designer and manufacturer of financial cards used by affluent customers of credit card issuers. The new investment from LLR will be used to finance an expansion of sales and marketing and for new product development.
CompoSecure’s flagship products are laser engravable ID cards and luxury metal cards that are sold to card issuers in the financial services, government, security, retail, gifting, resorts and casinos sectors. The company also offers composite pre-laminated products and sub-assemblies to other plastic card manufacturers. CompoSecure is headquartered near New York in Somerset, NJ (www.composecure.com).
“Specialty credit cards are an increasingly attractive way for issuers to differentiate themselves to win, retain, and boost usage by affluent customers,” said Mitchell Hollin, partner at LLR. “CompoSecure continues to differentiate itself with new product innovation led by an experienced engineering team. We are excited to partner with the company and support its continued growth as the dominant player in this unique market.”
LLR Partners invests in technology and service businesses that have annual revenues of $25 million to $250 million. The firm’s target companies include those that serve commercial and government clients in the physical and cyber security markets, as well as government contractors to the US homeland security, defense, intelligence and healthcare agencies. LLR is currently investing out of its fourth fund with $930 million of capital commitments. The firm has offices in Philadelphia, PA and Arlington, VA (www.llrpartners.com).
“CompoSecure has years of experience producing iconic, luxury cards, infusing each with an understated elegance that elevates the cardholder’s transaction experience and enhances the issuer’s brand,” said Michele Logan, CEO of CompoSecure. “LLR’s expertise in financial services and experience helping middle market businesses grow made them an ideal capital and strategic partner for CompoSecure, as we continue to enable clients to maximize their brand equity with high net worth customers.”
Generational Capital Markets (www.gencm.com) was the financial advisor to CompoSecure for this transaction. “With its understanding of CompoSecure’s products and markets and its track record with financial services and middle market companies, I don’t think we could have found a more perfect partner for our client than LLR,” said Eric Sanderson, a Managing Director at Generational Capital Markets .
2015 PEPD • Private Equity’s Leading News Magazine • 5-20-15