November, 3, 2025 - CompoSecure, Inc., a leader in metal payment cards, security, and authentication solutions, today announced a business combination with Husky Technologies Limited, a market leading manufacturer of engineered equipment and aftermarket services, in a transaction that will value the combined business at approximately $7.4 billion.

David Cote, Executive Chairman of CompoSecure and former Honeywell CEO, said in the announcement: “We are delighted to announce the business combination with Husky. This is a business Tom [Knott] and I have long admired, and it hits all the key criteria we look for in every investment – it holds a great position in a good industry, significant technology differentiation, organic and inorganic growth possibilities, and margin expansion potential. We are excited to begin working with the Husky team and believe the combined business is uniquely well positioned to deliver for investors.”

Louis Samson, Co-President of Platinum Equity, Husky’s current shareholder, added: “We believe this combination will create value and unlock new opportunities for Husky and its stakeholders. We have great respect for David Cote’s leadership, share his conviction in this opportunity and are excited to roll more than $1 billion of equity into the deal. We have partnered with Dave, Tom Knott, and the team at Resolute before and look forward to working with them to create value again.”

The announcement noted that Husky will be run as a standalone business alongside CompoSecure and will continue to operate under its current management team.

Husky Technologies CEO, Bradley Selleck, today said the business combination supports Husky’s long-term strategy and reinforces its commitment to innovation, operational strength and customer partnership, ensuring continuity for employees and customers, while enabling long-term investment.

“Husky Technologies will build on the strong foundation we’ve established over our 72-year history,” explained Selleck. “With CompoSecure’s long-term partnership, we will continue to invest in the technologies, systems and capabilities that matter most to our customers and team members. Our focus remains on delivering high performance, reliability, service excellence and innovation.”

Selleck underscored there will be no immediate changes to operations or customer experience.

“Husky will continue executing its current growth strategy, with sustainability and innovation remaining central to its future pipeline,” Selleck added.

Transaction Terms

Under the terms of the transaction, CompoSecure will combine with Husky for an enterprise value of approximately $5 billion, representing approximately 11.2x 2026E Pro Forma Adjusted EBITDA of $445 million. The combined entity value of approximately $7.4 billion is based on a private placement price of $18.50 / share of CompoSecure common stock. CompoSecure, Inc. is expected to be renamed prior to closing with CompoSecure and Husky expected to be separate reporting subsidiaries.

The business combination is being funded through a private placement of approximately $2.0 billion and equity rollover of approximately $1.0 billion from Platinum Equity.

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approval.

A supplier of injection molding equipment and services to the plastics industry, Husky was founded in 1953 and has more than 4,300 employees worldwide, with customers in over 140 countries. Husky´s headquarters and main manufacturing facilities are located in Bolton, Ontario, Canada, with additional manufacturing facilities in the U.S., Luxembourg, Switzerland, India and China. The company also has three technical centers in Japan, Luxembourg and Shanghai, as well as a global network of 40 service and sales offices.

Husky builds, installs and supports a comprehensive range of injection molding systems and equipment, including machines, molds, hot runners, auxiliaries and integrated systems. The main markets served are Medical and healthcare, the beverage industry, General packaging and closures, Thinwall packaging and Consumer products. Husky also offers other services, including solution development, collaborative factory planning/design/build, customer training, systems integration and asset management. Platinum bought Husky from Berkshire Partners and Omers Private Equity for about $4 billion in 2018.

Founded in 2000, CompoSecure is a manufacturer of metal cards, serving approximately 150 paument car programs. In 2024, an investment firm led by Cote and former Goldman Sachs executive Tom Knott bought a majority stake in CompoSecure. After the deal, Cote became its executive chairman. According to Reuters, Cote's family office already has around $1.1 billion invested in CompoSecure.