Resolute Holdings Acquires Majority Stake in CompoSecure (Nasdaq: CMPO): A New Era of Growth

3 min read | September 17, 2024 09:44 PM PDT | By Team Kalkine Media

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Resolute Holdings Acquires Majority Stake in CompoSecure (Nasdaq: CMPO): A New Era of Growth — Image source: Shutterstock

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Resolute Holdings I, LP and its affiliated vehicles, led by industry veterans David Cote and Tom Knott, have successfully acquired a majority interest in CompoSecure, Inc. (Nasdaq:CMPO), marking a significant milestone for both firms. The acquisition, valued at approximately $372 million, was finalized on September 17, 2024, under stock purchase agreements with certain CompoSecure shareholders. Following the deal, Resolute now holds 49.3 million Class A shares, which equates to around 60% of CompoSecure’s outstanding shares.

David Cote, newly appointed executive chairman of CompoSecure’s board, expressed enthusiasm for the collaboration ahead. He, alongside Knott and the new board members, aims to drive long-term value for shareholders by enhancing the company’s organic growth and operational efficiency. They are also keen to diversify CompoSecure’s customer base and business mix through strategic mergers and acquisitions (M&A). Cote emphasized that the company's permanent capital structure would enable it to pursue acquisitions more effectively, particularly those requiring operational improvement.

Jon Wilk, President and CEO of CompoSecure, welcomed Cote’s leadership, highlighting his extensive experience with global public companies like Honeywell and Vertiv. Wilk also expressed optimism about the new board members, who bring a wealth of expertise and insight to guide CompoSecure as it embarks on this transformative journey.

New Board Leadership

The newly appointed board features distinguished leaders with extensive backgrounds in various sectors:

- David Cote: With over 40 years of operating experience, Cote has a proven track record as chairman and CEO of Honeywell and TRW, and he currently serves as executive chairman of Vertiv.

- Tom Knott: Former CEO of Goldman Sachs Acquisition Holdings, Knott successfully guided multiple IPOs and mergers, including the merger with Vertiv.

- Joseph DeAngelo: Former chairman and CEO of HD Supply Holdings, DeAngelo brings deep knowledge of industrial distribution and operational leadership.

- Roger Fradin: A former president and CEO at Honeywell’s Automation and Control Solutions, Fradin also served as Vice Chairman of Honeywell before his retirement in 2017.

- Mark James: Former chief human resources officer at Honeywell, James now leads his consulting firm and offers expertise in organizational management.

- John Cote: Founder of SRM Equity Partners, John Cote has a solid background in investment banking and operational leadership.

Together, this new board is poised to drive CompoSecure’s strategic vision forward, capitalizing on the company’s potential while navigating the challenges of a rapidly evolving market. As Resolute and CompoSecure embark on this new chapter, their partnership signifies a robust commitment to innovation and growth in the financial technology space.

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